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Last Update: 02-Jun-11 09:35 ET
Nonfarm Productivity Revised Higher on Stronger Output Data
Nonfarm business productivity was revised higher to 1.8% in Q1 2011 (from 1.6%) after increasing 2.9% in Q4 2010.
The Briefing.com consensus expected nonfarm business productivity to remain at 1.6%.
Output was revised modestly higher, from 3.1% to 3.2%, in-line with the second estimate for Q1 2011 GDP. Growth in hours worked was unchanged at 1.4%.
Hourly compensation was revised down from 2.6% to 2.5% in Q1 2011. With total hours unchanged, the drop in compensation caused a downward revision in unit labor costs from 1.0% to 0.7%.
