Fourth-quarter productivity unrevised at 2.6% (by Jeffry Bartash)
WASHINGTON (MarketWatch) - The productivity of American businesses rose 2.6% in the fourth quarter, unchanged from the government's initial estimate. Economists surveyed by MarketWatch expected productivity to be revised down to 2.2% from a seasonally adjusted 2.6%. The quantity of goods and services produced, known as real output, grew at an annualized rate of 4%, down from an originally reported 4.5%. Hours worked rose 1.4% instead of 1.8% as initially estimated. Productivity is calculated by dividing the output of goods and services, adjusted for inflation, by the number of hours that employees work.