Nonfarm productivity growth for Q2 was unrevised from the 1.4% pace reported in the preliminary estimate, as expected following a 0.8% gain in Q1.
Output growth and hours worked growth were both unrevised from the preliminary estimate for Q2.
As a result of no adjustment to productivity and a downward adjustment to compensation, unit labor costs for Q2 were revised lower to a 1.2% gain from the previously reported 1.3% gain. Unit labor costs rose by 1.3% in Q1.
Australia's goods balance recorded a seasonally adjusted surplus of AU$1.92 billion in July, up from AU$2.34 billion in June, according to data published by the Australian Bureau of Statistics on Thursday.Goods exports fell 3.3%, or AU$1.58 billion, to AU$46.26 billion, driven by a decrease in non-monetary gold.Goods imports fell 2.5%, or AU$1.16 billion, to AU$44.34 billion, driven by lower fuel and lubricants.
Business activity across China's private service sector expanded in August, with the headline RatingDog China General Services Business Activity Index, compiled by S&P Global, coming in at 51.4, according to data released on Thursday.The latest reading beat the consensus forecast of 50.6 tracked by Investing.com and compared with the 50.4 recorded in the previous month.The monthly momentum was primarily driven by new business, greater market demand, financial improvements, client recruitment, and innovation.
Business activity across China's private sector expanded in August, with the headline RatingDog China Composite Output Index, compiled by S&P Global, coming in at 52.1, according to data released on Thursday.The latest print, which aggregates combined performance figures across both the manufacturing and service sectors, compared with 50.8 in the previous month. A reading above 50 indicates an overall expansion in private sector activity, while a figure below signals a contraction.The reading was in contrast with the official government composite PMI, which stood at 49.5.The monthly momentum reflected a faster pace of growth in output and new businesses in both manufacturing and services sectors in August, with the RatingDog China General Manufacturing PMI at 51.5 and the RatingDog China General Services Business Activity Index at 51.4.