US Equities Slightly Higher Following Strong Productivity Report
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US equity markets are slightly higher in the first 20-minutes of trading today following a better than expected productivity report, which is giving bulls something to hang their hat on.
Productivity increased 1.8 percent in the nonfarm business sector during the fourth quarter of 2007 while unit labor costs rose 2.1 percent (seasonally- adjusted annual rates). Analysts were looking for 0.5% and 2.1%, respectively.
In manufacturing, productivity increased 2.5 percent in the fourth quarter of 2007, and unit labor costs rose 1.7 percent.
Productivity increased 1.8 percent in the nonfarm business sector during the fourth quarter of 2007 while unit labor costs rose 2.1 percent (seasonally- adjusted annual rates). Analysts were looking for 0.5% and 2.1%, respectively.
In manufacturing, productivity increased 2.5 percent in the fourth quarter of 2007, and unit labor costs rose 1.7 percent.
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