Productivity Growth Slows Sharply While Factory Orders Plunge

Summary

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WASHINGTON -- Growth in worker productivity slowed sharply in the summer while wages and benefits rose at a rate that was far below a previous estimate, a development likely to ease inflation worries at the Federal Reserve.

Productivity edged up at an 0.2 percent annual rate in the July- September quarter, the Commerce Department said Tuesday. That was slightly better than the zero change reported a month ago.

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Productivity Growth Slows Sharply While Factory Orders Plunge

Wages and benefits per unit of output increased at an annual rate of 2.3 percent in the third quarter, much slower than the 3.8 percent advance previously reported.

Analysts said this downward rev...

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