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The Boston Globe

Business

US productivity grows at faster 2.9 pct. rate

WASHINGTON — US workers were more productive this summer than initially thought, while costing their companies less.

The Labor Department said Wednesday that productivity grew at an annual rate of 2.9 percent from July through September. That’s the fastest pace in two years and higher than the initial estimate of 1.9 percent. Labor costs dropped at a rate of 1.9 percent, more than the 0.1 percent dip initially estimated.

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