US productivity grew at strong 2.9 percent rate in Q2
(WorldNews Business)

WASHINGTON (AP) - U.S. productivity grew at an annual rate of 2.9 percent in the second quarter, the fastest pace in more than three years, while labor costs actually fell. The April-June increase in productivity followed a much weaker 0.3 percent rate of gain in the first quarter, the Labor Department reported Wednesday. It was the strongest advance since a 3.1 percent gain in the first quarter of 2015. Labor costs actually fell at a 0.9 percent rate in the second quarter, the weakest showing in nearly four years. Productivity, a key factor determining how fast the economy can grow and how much living standards can increase, has been anemic throughout this expansion. The strong second...