Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

U.S. non-farm productivity falls 1.9% in the first quarter

Published 05/06/2015, 08:32 AM
Updated 05/06/2015, 08:32 AM
U.S. non-farm productivity falls more than expected in the first quarter

Investing.com - U.S. non-farm productivity fell more than expected in the first quarter, while unit labor costs came in above forecasts, official preliminary data showed on Wednesday.

In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity decreased by a seasonally adjusted 1.9% in the first three months of the year, worse than expectations for a decline of 1.8%.

The preceding quarter’s figure was revised to a drop of 2.1% from a previously reported fall of 2.2%.

The report also said unit labor costs increased by a seasonally adjusted 5.0% in the first quarter, above forecasts for a gain of 4.3% and following rise of 4.2% in the fourth quarter.

EUR/USD was trading at 1.1259 from around 1.1274 ahead of the release of the data, GBP/USD was at 1.5227 from 1.5245 earlier, while USD/JPY was at 119.65 compared to 119.59 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.71, compared to 94.60 ahead of the report.

Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.3% at the open, the S&P 500 futures pointed to a rise of 0.25%, while Nasdaq 100 futures tacked on 0.1%.

Elsewhere, in the commodities market, gold futures traded at $1,193.20 a troy ounce, compared to $1,194.90 ahead of the data, while crude oil traded at $61.70 a barrel from $61.71 earlier.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.