US fourth quarter non-farm labor productivity beats forecasts

US non-farm labour productivity rose more than expected during the fourth quarter of 2016, helping to push unit labour costs, a key metric of price pressures from the jobs market, below forecasts.

Productivity rose at a quarterly annualised pace of 1.3%, according to the Bureau of Labor Statistics.

That bested economists' forecasts calling for rise of 1.0%.

In parallel, and in terms of quarterly annualise rates of change, output grew by 2.2%, hours worked by 0.9%, hourly compensation by 3.0%, and unit labour costs by 1.7% (consensus: 2.3%).

Real hourly compensation slipped 0.4%.

Versus a year ago productivity was ahead by 1.0% and unit labour costs by 1.9%.