US productivity growth slows to 0.8 percent rate in Q1
US productivity grew at a 0.8 percent rate in the first quarter. Analysts expect future gains to stem from increased business investments in AI technology.
Xurve View
Xurve View
The United States Bureau of Labor Statistics reported nonfarm productivity increased at a 0.8% annualized rate during the first quarter. This marks a cooling from the 1.6% growth seen in the previous quarter and missed economist forecasts of 1.0%. The data suggests heavy artificial intelligence spending may be needed to reverse this trend and curb rising unit labor costs.
