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More Good Economic News

The Labor Department says factory productivity expanded at a 2.3% annual rate in the third quarter.  The trend in productivity, however, remains relatively weak. Productivity rose 1.0% compared to the third quarter of 2013.

Compensation measures were revised sharply lower as unit labor costs, the price of labor for any given unit of production, fell at a 1.0% rate in the third quarter. Compared to the third quarter of last year, hourly compensation rose 2.2%. (US Department of Labor)

A gauge of growth in the U.S. services sector rose more than expected in November even as its employment component dipped. The Institute for Supply Management said its services index rose to 59.3 last month, just below the post-recession high of 59.6 hit in August. A reading above 50 indicates expansion in economic activity.

WiseTech Global, has announced an integration partnership with Bend, Oregon based VelaTrack. VelaTrack tracks containers in near real-time from all major ocean carriers worldwide. The integration will allow container information from VelaTrack to automatically flow into WiseTech.  VelaTrack , CEO Chris Mergenthaler says this partnership is important for growth of his firm. (WiseTech Global Press Release)
 

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