Productivity revised lower to 3.5%, while labor costs rise more than expected in Q2
- Productivity revised lower to 3.5% in Q2, while labor costs rose more than expected
- Output increased 1.9% and hours worked decreased 1.5% in Q2
- Unit labor costs rose 2.2% vs 1.7% consensus in Q2
- Manufacturing productivity increased 2.9% as output rose and hours fell
- From a year ago, nonfarm business productivity was unrevised, up 1.3%
