US productivity increased at 4.6% rate in third quarter
By MARTIN CRUTSINGER AP Economics Writer
WASHINGTON (AP) — U.S. productivity increased at a solid 4.6% pace in the July-September quarter, slightly below the initial estimate, while labor costs fell at a slower pace. The Labor Department reported Tuesday that the third quarter increase in productivity was below the first estimate a month ago of a 4.9% increase. Productivity had surged at a 10.6% rate in the second quarter. Labor costs fell at a 6.6% rate in the third quarter , a smaller drop than the 8.9% decline estimated a month ago.