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MNI DATA ANALYSIS: US Q3 ULC Unrev At +0.9%; Q4 Not Reported>

By Kevin Kastner, Harrison Clarke, and Shikha Dave
     WASHINGTON (MNI) - Data for fourth quarter nonfarm productivity and 
unit labor costs are unavailable due to the delay of GDP data from the 
Commerce Department. Hours worked growth, for which data are available, 
was up 1.6% in the fourth quarter after rising 1.7% in the third 
quarter, data released by the Bureau of Labor Statistics Wednesday 
     Data on the fourth quarter's nonfarm productivity, unit labor 
costs, and compensation should be released in the next estimate, once 
GDP data from the Commerce Debarment is available. 
     Manufacturing productivity rose 1.3% in the fourth quarter and was 
revised up slightly to 1.1% in the third quarter. Output growth rose 
2.3%, down from 4.2% last quarter, while hours worked rose 1.0%, down 
from 3.1% in the third quarter. Manufacturing unit labor costs were not 
     Third quarter nonfarm productivity was revised down slightly to 
2.2% from the previously reported 2.3%. Unit labor costs for the third 
quarter were unrevised from a 0.9% rise in the previous estimate. 
     The year/year pace of third quarter productivity growth was 
unrevised from 1.3% in the last estimate. Unit labor costs still stand 
at a 0.9% year/year pace in the third quarter. 
     ** MNI Washington Bureau: 202-371-2121 ** 

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