The U.S. Labor Department released non-farm productivity figures on Tuesday. Preliminary productivity in the U.S. non-farm businesses rose at a 1.3% annual rate in the second quarter, missing expectations for a 1.6% increase, after a 1.1% drop in the first quarter. The first quarter's figure was revised up from a 3.1% fall.
The increase was driven by higher output, which rose 2.8%. Hours worked climbed by 1.5%.
Preliminary unit labour costs increased 0.5% in the second quarter, exceeding expectations for a 0.1% rise, after a 2.3 gain in the first quarter. The first quarter's figure was revised down from a 6.7% increase.