US Q4 unit labor costs prelim +3.0% vs +3.4% expected

• Prior was +0.8% (revised to +0.5%)
• Productivity prelim +3.0% vs +1.4% expected
• Prior productivity +2.2% (revised to +2.3%)

This is a low-tier indicator but it’s dovish and emphasizes that the Fed will likely be able to cut later this year if there’s any weakness creeping into the economy.

This article was written by Adam Button at www.forexlive.com.