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U.S. productivity rebounds in second quarter, wage inflation muted

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WASHINGTON - U.S. nonfarm productivity rebounded more strongly than expected in the second quarter, putting a lid on wage pressures and giving the Federal Reserve room to keep interest rates low for a while.

The Labor Department said on Friday productivity increased at a 2.5 percent annual rate after contracting at a revised 4.5 percent pace in the first quarter, which was the fastest decline since the fourth quarter of 1981.

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