Business Productivity Up 1.2%

The productivity of U.S. businesses climbed at an annual rate of 1.2% during the period from July through September, the same advance posted in the spring, the government reported today.

The Labor Department said the third quarter gain in non-farm business productivity included an increase in output of 3.2% while hours worked by employees rose 2%. The productivity gains during the last two quarters were a sharp turnaround from performance reported for the first three months of the year, when productivity plunged at an annual rate of 3.1%.