U.S. labor productivity dipped by slightly more than expected in the first quarter of 2012 as hours worked outpaced an increase in output, according to the Labor Department.
The department reported that business sector labor productivity fell at a 0.9 percent annual rate during the first quarter, a downward revision from the 0.5 percent decline initially reported.
Furthermore, the 0.9 percent productivity drop reflects a fairly large reversal of the 1.2 percent productivity growth posted for the fourth quarter of 2011.
Most economists had expected the downward revision to the productivity figures for Q1, but most had predicted it would fall by slightly less, 0.8 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.