US labour productivity falls short of forecasts in the fourth quarter

US non-farm labour productivity fell short of economists' forecasts during the last three months of 2016, pushing labour costs past estimates.

Productivity and unit labour costs advanced by 1.3% and 1.7% quarter-on-quarter, revised data from the Commerce Department revealed.

That compared to forecasts for gains of 1.5% for each.

In comparison to the year earlier period, they increased by 1.0% and 2.0%, respectively.

Also in annualised terms, output was 2.2% ahead, hours worked increased 1.2%, hourly compensation by 3.0% and real hourly compensation by 1.2%.