6 March 2001, 16:33 ANALYSIS: US 4Q NONFARM PRODUCTIVITY REV +2.2%, MFG HIGHER
-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.
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