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

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...