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Analysts had expected a stronger decline in US productivity
The productivity of the US economy fell less than expected in the fourth quarter of 2020. The ratio of production and working time fell to the year extrapolated by 4.2 percent, as the US Department of Labor announced according to a second estimate.
Analysts had expected a more pronounced decline of 4.7 percent on average. In a first estimate, a decrease of 4.8 percent was determined. In the third quarter, productivity had increased by 4.4 percent.
Unit labor costs rose by 6.0 percent in the fourth quarter, extrapolated to the year. Economists had reckoned with 6.6 percent after an increase of 6.8 percent had been determined. In the third quarter they had fallen by 9.6 percent.
