US: Upward revision in nonfarm productivity for Q3? - Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura point out that in the initial reading, Q3 nonfarm productivity increased strongly by 3.0% q-o-q saar.

Key Quotes

“Some of the pickup was likely due to softness in employee hours, a possible consequence of weather disruptions. That said, with the BEA’s second estimate of Q3 GDP growth at 3.3%, up from 3.0%, an upward revision in nonfarm productivity for Q3 would not be unexpected. Consistent with other restrained measures of compensation, unit labor costs in Q3 increased only 0.5%.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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