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The U.S. Labor Department released its final non-farm productivity figures on Tuesday. Final productivity in the U.S. non-farm businesses declined at a 0.6% annual rate in the first quarter, up from the preliminary reading a 1.0% drop, after a 1.7% decrease in the fourth quarter.
The upward revision was driven by higher nonfarm business output, which rose 0.9% in the first quarter, up from the preliminary reading of a 0.4% gain.
Hours worked increased by 1.5% in the first quarter, in line with the preliminary reading.
Final unit labour costs climbed 4.5% in the first quarter, up from the preliminary reading of a 4.1% increase, after a 2.7 gain in the fourth quarter.
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