- Prior 5.7%. Revised to 11.8%
- Non farm productivity 2.5% vs 1.5% exp. Prior -3.2%. Revised to -4.5%
A bit of a mixed bag in the data. Non farm productivity rose better than expected but was revised down last quarter to the lowest since Q4 1981. While labour costs for the quarter shrank there was a massive upwards revision to Q1 2014. Manufacturing and non-durables showed some good gains, which is a good plus for the economy but durables fell. Total business turned around a 5.0% loss to a 2.0% gain.
US labour costs 08 08 2014
Overall it’s a positive report and runs inline with the recent data we’ve seen from the states. USD/JPY has tried to like it as it trades up to 102.09 and then falls back under 102
US non farm productivity and labour costs qq 08 08 2014
