The sharp downward revision suggests inflation will continue to run below the Federal Reserve’s 2% target.
Trade tensions between the United States and China continue to spur volatility.
“The rebound in productivity is restraining labor costs and keeping inflation in check,” an economist says.
Trade tensions and the China slowdown "have contributed to a sense of uncertainty and pessimism about the global economy," AICPA says.
In the latest deal under the professional services firm's "insourcing" managed-service strategy, most of Synchrony's tax department is now on its payroll.
No matter how grim things become, it's important to face each level of distress as soon as it arises and with full transparency.
Despite the March decline, the U.S. is still “on track to run another large trade gap in 2018 that exceeds the deficit in the prior year."
Despite the revision, productivity in the first quarter still showed the worst performance since the second quarter of last year.
The increase was more than double the government's initial estimate, reflecting rising hourly wages amid low unemployment.
“We continue to be on track for very slow progress,” an economist says of the small increase in wages despite a strengthening labor market.
Worker hours fell but output increased; real hourly compensation and labor costs rose.
Improving wages could prod the Fed to move sooner on interest rates.
