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U.S. non-farm productivity declines less-than-expected in Q2

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Forexpros - U.S. non-farm productivity declined less-than-expected in the second quarter, official preliminary data showed on Tuesday.

In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity declined by a seasonally adjusted 0.3% in the second quarter, better than expectations for a 0.9% decline.

The previous quarter's figure was revised down to a 0.6% drop from a previously reported 1.8% gain

The report also said unit labor costs rose by a seasonally adjusted 2.2% in the second quarter, broadly in line with expectations.

The previous quarter's figure was revised higher to 4.8% from a 0.7% increase.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.68% to hit 1.4276.

Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.5%, S&P 500 futures indicated an increase of 0.7%, while the Nasdaq 100 futures advanced 0.2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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