U.S. productivity grows at 2.2% rate, faster than estimated
Posted: September 5, 2012 at 7:46 a.m.
WASHINGTON — The productivity of U.S. workers rebounded more than initially estimated in the second quarter as employers tried to protect profits.
The measure of employee output per hour climbed at a 2.2 percent annual rate, after a 0.5 percent drop in the prior three months, revised figures from the Labor Department showed Wednesday in Washington.
The median forecast of 59 economists surveyed by Bloomberg called for a 1.8 percent increase. Expenses per worker climbed at a 1.5 percent rate, less than previously estimated.
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