U.S. Productivity Growth Accelerates to Fastest Pace in a Year

Summary

U.S. labor productivity rose at the fastest pace in a year in the third quarter. Productivity in the nonfarm business sector increased at a 3.6 percent annual rate from July through September, the Labor Department said Thursday, beating economists’ forecast of 2.8 percent. The government revised second-quarter growth up to 2.1 percent from 1.4 percent. Business output rose at a 3.7 percent annual rate in the third quarter, while hours worked increased just 0.1 percent. The rise in output drove the productivity gain as the broader economy expanded at a 3.4 percent pace, supported by strong…

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