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3Q nonfarm productivity +3.0% (strongest 3Q.>

US DATA
US DATA: 3Q nonfarm productivity +3.0% (strongest since 3Q 2014) vs 
+2.9% expected, ULC +0.5% vs +0.6% expected, while for 2Q, productivity 
unrev at +1.5% and ULC rev up very slightly to +0.3% (prev +0.2%), so 
overall a report with no major surprises. 3Q output growth +3.8%, 
slightly less than 2Q, but hours worked growth slipped to +0.8% from 
+2.4%. Nonfarm productivity +1.5% y/y (strongest since 2Q 2015) vs +1.3% 
in 2Q, but ULC -0.1% y/y vs -0.2% y/y in 2Q, an indication of the 
softness of labor costs. See MNI main wire. 

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