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Q2 US Nonfarm Productivity Rises Faster Than Expected, Unit Labor Costs Rise

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Nonfarm productivity rose by 1.4% in Q2 after a 0.8% increase in Q1, above expectations for a 0.6% increase in a survey compiled by Bloomberg as of 7:33 am ET, data released by the Bureau of Labor Statistics showed.

Output growth accelerated to 1.7% from 1.5% in the previous quarter, while hours worked rose by 0.3% after a 0.7% increase.

Unit labor costs were up 1.3%, the same as in Q1, however, below the expectations for a 2.1% increase. The acceleration in productivity growth was offset by faster compensation growth.

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