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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (44204)	6/4/2003 10:04:20 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Great base for the market to move.. U.S. non-farm productivity climbed 1.9 percent in the first three months of the year, the Labor Department said, an upward revision from the previously reported 1.6 percent gain. The number met analysts' expectations and followed an increase of just 0.7 percent in the final quarter of last year. "It's encouraging that we're continuing to see healthy productivity growth," said Mark Vitner of Wachovia Securities. "Historically it's still a robust rate of productivity growth." Speaking on Tuesday, Federal Reserve Chairman Alan Greenspan said U.S. productivity has been surprisingly resilient given weak economic growth. The central bank chief said he is expecting business investment to rise modestly in the second quarter while worker hours are likely to fall, leading to a "fairly significant increase" in productivity growth.