Wednesday, November 30, 2011

Nail in the coffin

Productivity Weaker Than Thought, Wages Slip
The rebound in U.S. nonfarm productivity growth was not as strong as previously estimated in the third quarter, while wages declined for two straight quarters, supporting the Federal Reserve's views of moderate inflation pressures. Productivity increased at a 2.3 percent annual rate, the Labor Department said on Wednesday, a downward revision to its previous estimate of 3.1 percent.

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