FXstreet.com (Barcelona) - Non-farm productivity has posted a larger than expected increase on the third quarter, while unit labour costs have decreased, according to the Labor Department, but this tendency might be short lived due to increasing energy prices.
In the third quarter, non-farm productivity increased 6.3%, revised up from the 4.9% previous estimation, extremely good data if compared to the 2.2% increase posted in the previous quarter.
Unit labour costs, a gauge observed to estimate inflationary trends, decreased 2% on the third quarter, revised down frm the previous -0.2% estimation. On the year, unit labour costs have risen 3.0%.
Both figures improve the experts forecasts, as they expected a 6.2% rise in productivity, and a 1.5% decrease on unit labour costs.