U.S. fourth-quarter productivity slashed

The U.S. government on Thursday sharply revised down nonfarm productivity for the fourth quarter, mirroring the economy's slow growth pace in the same period. Productivity rose at a 1.8 percent annual rate instead of the previously reported 3.2 percent pace, the Labor Department said on Thursday. Productivity, which measures hourly output per worker increased at a 3.5 percent pace in the third quarter.