Posted on 11/06/2003 2:03:47 PM PST by Tumbleweed_Connection
WASHINGTON (AP) - Productivity of U.S. companies in the third quarter registered the best showing since early 2002 and new claims for unemployment benefits last week plunged to the lowest level in more than two years. The pair of Labour Department reports Thursday raised new hopes that businesses may be more confident than before that the economic rebound is genuine. The behaviour of businesses - especially their willingness to step up investment and hiring in the coming months - will play an important role in determining the vigour of any resurgence. Productivity - the amount an employee produces per hour of work - grew at an annual rate of 8.1 per cent in the July-to-September quarter, the fastest pace since the first quarter of 2002. That was up from a seven per cent clip in the second quarter, the department reported. The third-quarter's performance, however, was slightly weaker than the 8.5 per cent growth rate that some economists were predicting.
Squaked the nine dwarf rats in unison - "Damn, just damn."
Tom Daschle: "I am saddened. Deeply saddened."
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