WASHINGTON (AP) — U.S. companies got more output from their workers this spring than initially thought. Productivity rose at a modest 2.2 percent annual rate in the April-June quarter, largely because employers cut back sharply on hiring.
Most economists expect productivity will slow later this year, a trend that could boost hiring.
The Labor Department said Wednesday that productivity in the second quarter was better than its initial estimate of a 1.6 percent gain.
The main reason for the increase was the government revised growth in the second quarter to an annual rate of 1.7 percent, up from an initial estimate of 1.5 percent.
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