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This Article is From Feb 07, 2019

U.S. Productivity Report Deprived of Main Gauge After Shutdown

U.S. Productivity Report Deprived of Main Gauge After Shutdown

(Bloomberg) -- The U.S. Labor Department published freshproductivity data Wednesday, though without the main measurebecause of the government shutdown.

The fourth-quarter gauge of nonfarm business productivity andunit labor cost figures were delayed because they rely on grossdomestic product data from the Commerce Department, which wasclosed and hasn't released GDP for the period.

Wednesday's report did include a revision for third-quarterproductivity, which rose at a 2.2 percent annualized pace in theperiod compared with a previously reported 2.3 percent.

While Labor remained open during the shutdown, some of itsreports incorporate data from other agencies. That meansthe nonfarm productivity measure most economists watch can't beupdated, and the Commerce Department's Bureau of EconomicAnalysis has yet to announce a new date for the GDP report.

The productivity report did include manufacturing efficiencyfigures, which are derived from other data from Labor and theFederal Reserve. That measure rose 1.3 percent in the fourthquarter after an upwardly revised 1.1 percent in the prior threemonths, according to the report.

©2019 Bloomberg L.P.

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