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To: Secret_Agent_Man who wrote (350301)	12/5/2007 9:12:00 AM
From: Giordano Bruno	Read Replies (1) \| Respond to of 436258

Downward revisions don't exist. -g- Productivity Grew 6.3% In Q3, Labor Costs Fell 2.0% 12/5/2007 9:07:48 AM The Department of Labor released its revised report on labor productivity and unit labor costs in the third quarter on Wednesday, showing that productivity growth in the quarter was revised up more than expected. The report showed that the pace of productivity growth in the third quarter was revised up to 6.3 percent from the previously reported 4.9 percent growth. Economists had expected a more modest upward revision to 5.5 percent growth. The upwardly revised productivity growth in the third quarter compares to much more modest 2.2 percent growth in the second quarter. The stronger than expected upward revision to productivity growth came as the pace of output growth was revised up to 5.7 percent from the previously reported 4.3 percent. Additionally, the drop in hours was revised to 0.6 percent from 0.5 percent. The Labor Department added that productivity growth in the manufacturing sector was revised up to 5.0 percent from 4.6 percent, reflecting a small upward revision to output and a smaller downward revision to hours. At the same time, the Labor Department said that unit labor costs fell 2.0 percent in the third quarter compared to the 0.2 percent drop previously reported. The drop in unit labor costs had been expected to be revised to a decrease a 1.0 percent. With the downward revision, the drop in labor costs reflected the steepest drop in four years. The revision to the drop in labor costs reflected the upward revision to productivity and a downward revision to hourly compensation growth, which was revised down to 4.2 percent from 4.7 percent.