Productivity growth revised down to 1.6 pct
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Business productivity growth was  revised down sharply as expected in the fourth quarter to an  annualized 1.6 percent pace, government data on Tuesday showed,  in a warning on inflation as labor costs soared.
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The economy grew at a sluggish 2.2 percent pace in the final quarter of last year, much slower than initially reported, in a kind of unusually large downward revision that has happened only seven times in the last 30 years.
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Worker productivity grew at a slower than first estimated 1.0 percent annualized pace during the first quarter as the economy just inched ahead, driving up labor costs by 1.8 percent and backing fears inflation remains a concern, a government report on Wednesday showed.
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Productivity grew at a healthy 3 percent annual rate in the final quarter, although this critical measure of U.S. economic vitality for all of 2006 expanded at the slowest pace in nine years.
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U.S. productivity rose at a solid clip in the fourth quarter as employers sharply cut the number of hours worked, restraining growth in labor costs, according to a report on Wednesday that may ease lingering concerns on inflation at the Federal Reserve.
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Productivity in the education system has increased slightly but not as much as it might have, a watchdog says.
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The U.S. economy grew at a  weaker-than-expected 3.1 percent annual pace in the final  quarter of 2004 year, its slowest since the beginning of 2003  as the country's trade performance deteriorated and inflation  picked up, a government report on Friday showed.
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BRUSSELS, Belgium  - Productivity in the European Union grew last year, but still lags behind the United States, according to a report by a New York-based research group.
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US industrial production grew in November, but at a slower pace than October's increase, figures show.
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The U.S. economy grew at a softer pace than first estimated in the final three months of last year as businesses slowed production to work off inventories and consumers spent less.
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UK economic growth is unexpectedly revised down to 0.7% in the three months to June, official figures show.
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The U.S. economy expanded by a weak 0.6 percent in the latest indication of a substantial economic slowdown.
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The productivity of U.S. workers  rose by a weaker-than-expected 0.2 percent in the third  quarter, while unit labor costs grew by less than initially  thought in encouraging news for the Federal Reserve on wage  pressures, government data showed on Tuesday.
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The U.S. economy grew at a weaker-than-expected 3.1 percent annual pace in the final quarter of 2004 year, its slowest since the beginning of 2003 as the country's trade performance deteriorated and inflation picked up, a government report on Friday showed.
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Revised numbers show a jump in wages and lower productivity, two potentially troubling signs as the Fed considers interest rates.
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Workers' productivity increased at an annual rate of 2.5 percent in the spring, the smallest gain since late 2002, reflecting the economy's slowdown.
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The U.S. economy grew at a  weaker-than-expected 3.1 percent annual pace in the final  quarter last year, its slowest since the beginning of 2003 as  the country's trade performance deteriorated and inflation  picked up, a government report on Friday showed.