-Manufacturing Productivity +5.3% in 4Q, Durables Revised Up
--Unit Labor Costs +4.3% Overall (High Since 4Q.97), ULC +3.0% in Mfg

By Joseph Plocek
WASHINGTON (MktNews) U.S. nonfarm productivity was revised to +2.2% for 4Q (was +2.4%) and Unit Labor Costs were revised to +4.3% (was +4.1%), pretty much as private economists expected.
The most interesting aspect of the revisions were in manufacturing, where manufacturing productivity was up 5.3% versus a previously reported +4.8%. The Labor Dept. said this reflects upward revised output in durables, which are often a swing factor in the economy.
That suggests that business investment in new equipment has raised the threshold for labor productivity in some areas of heavy industry.