US productivity
  • Prior was +0.4% (revised to +2.4%)
  • Productivity +2.2% vs +2.3% expected
  • Prior productivity +2.5% (revised to +2.1%)

In the long-run, productivity is the most-important predictor of an economy but in the short run, it's nearly impossible to measure. Within this data, the unit labor cost number is certainly an inflationary one.