US manufacturing sector productivity up 0.6% YoY in Q3 2024: BLS

Unit labour costs in the non-farm business sector were revised down 1.1 percentage points to an increase of 0.8 per cent in Q3 2024.

Manufacturing sector labour productivity increased by 0.9 per cent QoQ in Q3 2024—a 0.1-percentage point downward revision from the preliminary estimate.

In the US durable manufacturing sector, productivity increased by 0.7 per cent—a 0.1-percentage point downward revision from the preliminary estimate.

Total manufacturing sector productivity increased by 0.6 per cent YoY in Q3 2024.

Unit labour costs in the manufacturing sector overall were revised down by 3.6 percentage points to an increase of 1.7 per cent in Q3 2024, a BLS release said.

ALCHEMPro News Desk (DS)