This activity today has influenced a number of lenders to change their mortgage rates. Today's economic news showed that U.S. productivity for the first quarter dropped at a revised 1.2 percent rate, while labor costs rose at a 6. 3 percent rate in the quarter. This data represents the largest decline in productivity in eight years and the greatest increase in labor costs in four years. Another report indicated falling factory orders. Today's economic data raises some concerns of potential inflation, but the financial markets t5oday were able to overcome this idea.
Tomorrow has no economic news scheduled.
Thus, analysts and investors will be paying attention to ant corporate news. They especially watch the weekly unemployment claims to help determine how tight the labor market is. The report on consumer credit helps to determine the strength or weakness of consumer spending, which has a strong impact on the retail sector and on the entire economy. This Service is brought to you by Philadelphia Newspapers Inc. and MMIS, Inc.