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Q1 Rev Nonfarm Productivity +3.4%; ULC Rev..>

US DATA
US DATA: Q1 Rev Nonfarm Productivity +3.4%; ULC Rev Down Sharply -1.6%
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- Q1 nonfarm productivity rev down to +3.4% vs +3.5% BBG, +3.4% MNI 
- Q1 unit lbr costs rev down sharply to -1.6% vs -0.9% BBG and MNI
- Q4 productivity unrev at +1.3%), ULC rev down to -0.4% (prev +2.5%)
- Q1 productivity unrev +2.4% y/y after +1.7% y/y in Q4
- Q1 ULC rev down sharply to -0.8% y/y (prev +0.1%) after +0.4% y/y Q4
- Downward revisions to labor costs in the two recent quarters will add 
to the concerns about slowing inflation.

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