US DATA: Q3 nonfarm productivity +1.9% and ULC surprised at -0.1%.
Output surged +3.2% (in line with a fair GDP gain) but hours were more
subdued at +1.3%, resulting in the good prodty gain. Hourly compensation
+1.8%, slightly below prodty. YOY gains are +1.5% prodty and +1.1% ULC.
Mfg productivity was -0.4% in its worst showing since Q2:11 as durables
-0.7% with auto plant closings. This held back the overall number.
–
Initial Unemply Clms -9k to 363k for Oct 27 wk, with no special factors
(2 states not reporting – NJ and DC as they closed for weather). Note
that this wk comes after the holiday/Q4-start problems and before the
hurricane impacted. Claims avgd 367k in Oct vs 376k in Sept. Continuing
claims +4k to 3.263m in Oct 20 wk.