Forexpros – U.S. non-farm productivity rose more than initially expected in the final three months of 2011, official data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 0.9% in the fourth quarter, above expectations for a 0.8% increase and up from a preliminary estimate of 0.7%.
The report showed that unit labor costs jumped more-than-expected, rising by a seasonally adjusted 2.8% in the fourth quarter, compared to an initial estimate of a 1.2% increase.
Economists had expected unit labor costs to remain unchanged at 1.2%.
Following the release of the data, the U.S. dollar held on to modest losses against the euro, with EUR/USD easing up 0.1% to hit 1.3126.
Meanwhile, U.S. stock index futures added to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.4%, S&P 500 futures pointed to an increase of 0.5%, while the Nasdaq 100 futures added 0.55%.
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