U.S. productivity grew at 2.2 pct. rate in spring

U.S. productivity grew at 2.2 pct. rate in spring

By MARTIN CRUTSINGER The Associated Press
Published Sep 5, 2012 09:55AM MDT
Washington • U.S. companies got more output from their workers this spring than initially thought. Productivity rose at a modest 2.2 percent annual rate in the April-June quarter, largely because employers cut back sharply on hiring. Most economists expect productivity will slow later this year, a trend that could boost hiring. The Labor Department said Wednesday that productivity in the second quarter was better than its initial estimate of a 1.6 percent gain. The main reason for the increase w...
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