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Productivity and Costs  
Released On 12/6/2018 8:30:00 AM For Q3(r):2018
 PriorConsensusConsensus RangeActual
Nonfarm Productivity - Annual Rate2.2 %2.3 %2.2 % to 2.8 %2.3 %
Unit Labor Costs - Annual Rate1.2 %1.1 %0.6 % to 1.2 %0.9 %
US 6-Mo ChartGlobal Current
performance relative to consensus

Consensus Outlook
Following the modest revision to GDP, little change is expected for the second estimate of third-quarter nonfarm productivity, at a consensus 2.3 percent vs the first estimate's increase of 2.2 percent. Unit labor costs are expected to be revised to 1.1 percent vs an initial plus 1.2 percent.

Relative Performance Index

Econoday's RPI provides a handy summary measure of how an economy has recently been evolving relative to market expectations.
A reading above zero means that the economy in general has been performing more strongly than expected and vice versa for a reading below zero. The closer is the value to the maximum (+100) or minimum (-100) levels, the greater is the degree to which markets have been under- or over-estimating economic activity. A zero outturn would imply that, on average, the market consensus has been correct. Note too that the index is sensitized to place extra weight upon those indicators that investors consider to be the most important.

 

Definition
Productivity measures the growth of labor efficiency in producing the economy's goods and services. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends. Why Investors Care

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