US DATA: 1Q productivity rev to -0.9% SAAR vs prel…

US DATA: 1Q productivity rev to -0.9% SAAR vs prel -0.5%, while
unit labor costs rev to +1.3% vs prel +2.0%. Revised 4Q productivity
unrev +1.2%, but ULC now -1.5% (prev +2.7%) on sharp downward adj to
compensation. 1Q output growth rev dn to +2.4% from +2.7%, while hours
worked rev to +3.3% from +3.2%. 1Q compensation now +0.4%, rev down from
+1.5%, and following downward revised -0.4% (prev +3.9%). 1Q real
compensation now -2.0% (prel -0.9%) following downward rev -1.6% in 4Q.
1Q productivity +0.4% year/year vs +0.5% prel, while ULC now +0.9% y/y
vs prel est +2.1% y/y.