Forex Pros - U.S. non-farm productivity rose more-than-expected in the first quarter, official preliminary data showed on Thursday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity increased by a seasonally adjusted 1.6% in the first quarter, after rising by 2.9% in the preceding quarter, whose figure was upwardly revised from 2.6%.
Economists had expected non-farm productivity to rise by 1.0% in the first quarter.
The report also said unit labor costs rose more-than-expected, increasing by a seasonally adjusted 1.0% in the first quarter, after falling by -1.0% in the preceding quarter, whose figure was revised from a decline of -0.6%.
Economists had expected unit labor costs to rise by 0.8% in the first quarter.
Following the release of the data, the U.S. dollar was higher against the euro, with EUR/USD dropping 0.76% to hit 1.4713.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures pointed to a drop of 0.66%, S&P 500 futures indicated a loss of 0.69%, while the Nasdaq 100 futures retreated 0.22%.