U.S. manufacturing productivity rose more than initially estimated in the third quarter, driven by a stronger showing in durable-goods output, a development that points to improved efficiency on factory floors.
Productivity in the durable-goods manufacturing sector increased at a 5.4 percent annual rate in the third quarter, revised up from a 4.7 percent gain in the preliminary estimate. Output in durables was revised higher to a 3.6 percent increase, while hours worked fell 1.7 percent.
For total manufacturing, productivity rose at a 3.7 percent annual rate, revised up from 3.3 percent. Manufacturing output was revised up to a 3.0 percent…
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