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US productivity revised up to 2.9% rate

December 5, 2012

WASHINGTON -- U.S. workers were more productive this summer than initially thought, while costing their companies less. The Labor Department says productivity grew at an annual rate of 2.9 percent from July through September. That's the fastest pace in two years and up from an initial estimate of 1.9 percent. Labor costs dropped at a rate of 1.9 percent, more than the 0.1 percent dip initially estimated.

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