The US has seen a rise of 0.5% in unit labor costs, better than expected. However, this came on the back of a big downwards revision for Q1: only 2.3% instead of 6.7% originally reported. Productivity rose by 1.3%, lower than expected, but on the back of an upwards revision: from a drop of 3.1% to a slide of only 1.1%.
The confusing data triggered some choppy action, but nothing extraordinary.
Read the rest of the article US unit labor costs beat with +0.5%, but on the back of a big revision