WASHINGTON | US productivity up 2.3% in third quarter
WASHINGTON— U.S. productivity grew at an annual rate of 2.3% in the July-September quarter, slower than the previous quarter but still an improvement over the weak annual gains of the past decade. Labor costs rose at a modest pace in the third quarter.
The third quarter gain in productivity was revised up slightly from an initial estimate a month ago of a 2.2% gain, the Labor Department said Thursday. It marks a more modest advance than the second quarter’s 3% annual rate of increase.