US productivity gain revised down

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US productivity grew at a lower rate than originally estimated in the third quarter, revised figures have shown.

Productivity growth was revised down to 8.1% in the third quarter, from the initial estimate of 9.5%.

However, the revised figure is still the fastest rate since 2003. The productivity rate measures the hourly output per worker.

Separate figures showed the number of Americans claiming benefits for the first time fell last week.

Initial jobless claims fell by 5,000 to 457,000. The figures are being taken as a sign that companies are holding on to workers as the recovery takes hold - but making them work more efficiently.