By Jeffry Bartash
WASHINGTON (MarketWatch) - The increase in U.S. productivity in the second quarter was much higher than initially reported, mainly because workers generated even more goods and services. Productivity rose 2.3% in the April-to-June period, up sharply from a first read of 0.9%, the Labor Department said Thursday. Economists surveyed by MarketWatch had forecast productivity to be revised up to a 1.9% increase. Output of goods and services rose at 3.7% clip instead of 2.6% as initially estimated. Yet the increase in hours worked was revised down to 1.4% from 1.7%. Unit-labor costs showed zero change instead of rising 1.4%, and the increase in hourly wages of American workers was unchanged at 2.3%. The gain in manufacturing productivity, meanwhile, was lowered to 1.9% from 2.7% in the second quarter.
