U.S. 4th-quarter Productivity Revised To Show 2.2% Decline

U.S. productivity in the fourth quarter fell at a revised 2.2% annual pace, new government figures show. The Labor Department originally estimated that productivity fell 1.8% in the final three months of 2014. The increase in output of goods and services was lowered to 2.8% from 3.2%, the Labor Department said. The gain in hours worked was revised down to 4.9% from 5.1%. Unit-labor costs rose 4.1% instead of 2.7% in the fourth quarter. For 2014, productivity rose at slow 0.7% pace.