U.S. non-farm productivity rose more than initially expected in the third quarter, while unit labor costs declined more than forecast, official data showed on Monday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 3% in the third quarter, up from a preliminary estimate of 1.9% and above expectations for an increase of 2.8%.
The report also said unit labor costs fell by a seasonally adjusted 1.4% in the third quarter, compared to a preliminary estimate of a 0.6% decline and worse than expectations for a 1.3% drop.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.29% to trade at 1.3781.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow Jones Industrial Average futures indicated a gain of 0.55% at the open, S&P 500 futures pointed to a rise of 0.55% and Nasdaq 100 futures indicated an increase of 0.5%.
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