US: Unit labour costs and nonfarm productivity for Q2 in focus - TDS

Analysts at TDS suggest that unit labour costs and nonfarm productivity for Q2 will be the highlight for today’s US session in an otherwise quiet event calendar.

Key Quotes

“TD looks for unit labour costs to rise by an annualized 1.4% q/q, above the market consensus for a 1.1% increase. The market expects nonfarm productivity to record a subdued 0.7% q/q (saar) advance, while TD sees upside risks and is calling for a 1.0% gain.”