ECONODAY: Lower output pulled down productivity growth and pushed up unit labor costs in the third quarter. Productivity rose 1.6 percent in the quarter which is in the middle of the Econoday consensus range but well above the plus 0.1 percent median. Unit labor costs came in at a lower-than-expected plus 1.4 percent. Output slowed to plus 1.2 percent in the third quarter vs 5.1 percent in the second quarter. Limiting the rise in labor costs was a 0.5 percent decline in hours worked, which is the first decline in five years...
