| Economic Event | Nonfarm Productivity-Prel |
| Units | Percentage Change from Previous Period |
| Current Period | Q2 2009 |
| Release Date | Aug. 11. 09 |
| Reported | 6.4 |
| Consensus for Current Period | 5.1 |
| Number of Forecasts | 35 |
| Economic Surprise | 1.3 ( 25.49 % ) |
| Prior Period | Q1 2009 |
| Reported Value for Prior Period | 0.3 |
| Revised From | 1.6 |
| Next Release Date | Nov. 05. 09 |
| Next Release Time | 8:30 AM Eastern Time |
| Source | http://stats.bls.gov/news.release/pdf/prod2.pdf |
| Note | The productivity gain this quarter was the largest since the third quarter of 2003, when productivity grew at a 9.7 percent annual rate. |
| Description | Nonfarm productivity is an efficiency indicator that compares output with ours worked (excludes general government, nonprofit institutions, private households and farming). Productivity is widely followed because of its impact on inflation, the growth rate of the economy and jobs. It's one of several key indicators monitored by the Federal Reserve as it sets monetary policy. Subpar (below expectation) readings of productivity are deemed undesirable because they imply less efficient, more costly use of labor and other resources. Bond prices typically fall (yields rise) on the outlook for potentially higher inflation and an increased chance that the Fed will hike interest rates. Stock prices may also fall |