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The U.S. Labor Department released its revised non-farm productivity figures on Wednesday. Revised productivity in the U.S. non-farm businesses rose at a 3.3% annual rate in the second quarter, up from the preliminary reading of a 1.3% increase, after a 1.1% drop in the first quarter.
The upward revision was driven by higher output, which rose 4.7% in the second quarter, up from the preliminary reading of a 2.8% gain.
Hours worked climbed by 1.4%, down from the preliminary reading of a 1.5% rise.
Revised unit labour costs decreased 1.4% in the second quarter, down from the preliminary reading of a 0.5% increase, after a 2.3 gain in the first quarter.
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