US Non Farm Productivity for 4Q revised to -2.2% from -3.0% prior

Estimate was -2.9%.

The Unit labor costs fell to 3.3% from 4.3% estimate and 4.5% in the prior report. This is the most since early 2014. 

Slow growth with solid hiring hurt US productivity.    For all of 2015, non farm output per hour of work rose by 0.6%.  The last 5 years has averaged 0.5%. This is the weakest since 1978-1982 period. 

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