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UK hourly productivity grows at fastest rate since late 2016

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UK hourly productivity grows at fastest rate since late 2016
Workers are seen crossing the Millennium Bridge during the morning rush hour in London, Britain, September 25, 2018. REUTERS/Toby Melville   -   Copyright  Toby Melville(Reuters)
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LONDON (Reuters) – British workers’ hourly productivity grew in the second quarter at the fastest rate since late 2016 and labour cost growth slowed, according to official figures on Friday that suggested domestic inflation pressures remained fairly contained.

Output per hour in the three months to June rose by 1.4 percent compared with a year earlier, a fraction less than an initial estimate of 1.5 percent announced last month but still the biggest increase since the three months to December 2016.

Unit labour cost growth slowed to 2.0 percent in the second quarter from a one-year high of 2.7 percent in the first three months of 2018.

(Reporting by David Milliken; Editing by William Schomberg)

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