09 Sep 2005 How Much Economic Impact From Katrina?
Posted at 16:37h in The Friday BriefInflation talk is picking up as Fed governors and economists speak these days. This week, the Labor Department trimmed its estimate for non-farm business productivity growth in the second quarter to a 1.8% annual rate from 2.2%. That’s down from a 3.2% pace in the first quarter. The Labor Department also said labor costs rose more sharply in the second quarter than it first estimated, and that labor costs rose in the year ending in June at the fastest pace in five years. Labor costs are the biggest generator of consumer inflation.