FINWIRES · TerminalLIVE
FINWIRES

Q1 US Nonfarm Productivity Rise More Than Expected, Unit Labor Costs Growth Slows

By

-- Nonfarm productivity rose by 0.8% in Q1 after a downwardly revised 1.6% increase in Q4, above expectations for a 0.6% gain in a survey compiled by Bloomberg as of 7:40 am ET, data released by the Bureau of Labor Statistics showed.

Output growth accelerated to 1.5% from 1.3% in the previous quarter, but hours worked rebounded by 0.7% after a 0.2% decrease in the previous quarter.

Unit labor costs rose by 2.3% gain after a 4.6% gain in Q4, below expectations for a 2.5% increase. A slowdown in compensation growth was larger than the deceleration in productivity growth, accounting for the slower pace of unit labor cost growth.

Related Articles

Asia

Nila Spaces Posts Higher Consolidated Profit in Fiscal Q4

Nila Spaces (NSE:NILASPACES, BOM:542231) recorded a consolidated net profit attributable to owners of 92 million Indian rupees in the fiscal fourth quarter, almost double compared with 47.2 million rupees a year ago, according to an Indian bourse filing on Thursday.Earnings per share for the quarter ended March 31 climbed to 0.24 rupees from 0.12 rupees a year earlier.The real estate company's revenue from operations in fiscal Q4 increased year on year to 498.0 million rupees from 397.6 million rupees.

$BOM:542231$NSE:NILASPACES
Research

Tourmaline Oil Downgraded to Market Perform at BMO Following Q1 Results; Price Target Raised to C$70.00

BMO Capital Markets on Thursday downgraded its rating on the shares of Tourmaline Oil (TOU.TO) to market perform from outperform while raising its price target to C$70.00 from an undisclosed prior level following first-quarter results from the Western Canadian natural-gas producer."TOU reported slightly lower-than-expected CFPS results with volumes coming largely in line with estimates. TOU's share price has moved in line with our target price, and we see limited room for further multiple expansion given the large premium to peers. Furthermore, TOU's natural gas volumes are heavily exposed to floating WCAD and U.S. Pacific prices, which we suspect will continue to underperform in the near term due to growing storage levels. Accordingly, we are lowering our investment opinion to Market Perform but modestly raising our target price to $70," analyst Randy Ollenberger wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $62.99, Change: $-3.87, Percent Change: -5.78%

$TOU.TO
Asia

Oswal Pumps Unit Forms SPV for Rajasthan Solar Projects

Oswal Pumps (NSE:OSWALPUMPS, BOM:544418) said its wholly owned subsidiary, Oswal Solar Energy, has incorporated Oswal Doon Baran Bundi Solar Projects Ltd, according to a Thursday filing on Indian bourses.The SPV has been formed to execute rooftop solar projects on state government buildings in Rajasthan under a hybrid annuity model, the filing said.Oswal Solar holds 60% stake in the SPV, while Doon Infrapower Projects holds the remaining 40% stake, it added.

$BOM:544418$NSE:OSWALPUMPS