U.S. third-quarter productivity trimmed to 4.6% rate

[December 08, 2020]    WASHINGTON (Reuters) - U.S. worker productivity increased strongly in the third quarter, though the pace of growth was likely overstated as the sharp rebound in output has outpaced employment gains.

The Labor Department said on Tuesday nonfarm productivity, which measures hourly output per worker, increased at a 4.6% annualized rate last quarter. That was a downward revision from the 4.9% pace estimated last month. Economists polled by Reuters had forecast productivity growth would be unrevised at a 4.9% rate in the third quarter.

(Reporting by Lucia Mutikani; Editing by Andrew Heavens)

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