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U.S. productivity shows gains
Here’s some good news on the U.S. economic front: The Commerce Department reported today that productivity, the amount of output for every hour of work, jumped 4.3 percent at an annual rate in the April-June quarter, a full percentage point higher than economists expected.
At the same time, labor costs fell at an annual rate of 0.5 percent, slightly better than expected.
Those two outcomes should help relieve concerns that inflation is getting out of hand, according to an Associated Press report.
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