Preliminary data showed that nonfarm productivity increased at an annual rate of 2.2% in 1Q, ahead of the estimate of a 1.5% rise. Unit labor costs increased to 2.2%, less than the forecast of 2.6%.
Pending home sales fell 1.0% in March, matching forecasts, but February was revised from a 1.9% drop to a decline of 2.8%.
Details from Bloomberg...
