Wall Street Journal (11/14/13) Eric Morath; Josh Mitchell

According to the U.S. Department of Labor, labor productivity increased at a 1.9% annual rate from July through September. Productivity had increased rapidly early in the recession but has since slowed. Productivity rose along with investments in equipment and technology, which have also slowed. Unit labor costs declined at a 0.6% annual rate in the third quarter, but are up 1.9% year-to-year.

Job creation and hourly wages increased in October, and output increased by an annualized 3.7% in the third quarter. If companies continue to add jobs but output does not increase more quickly, productivity will slow. Many economists expect a slowdown during the fourth quarter.

CNBC News (11/15/13)

U.S. industrial production declined in October due to a reduction in output at power plants and mines, but manufacturing output rose for the third consecutive month, suggesting the U.S. economy is on a moderate growth trajectory. Industrial output shrank 0.1% last month after rising 0.7% in September, according to the U.S. Federal Reserve. The October decline was the first since July. Economists surveyed by Reuters had forecasted a gain of 0.2%. Manufacturing output rose by 0.3% even though automobile assembly declined for the first time since July.

Wall Street Journal (11/14/13) Jon Hilsenrath; Victoria McGrane

U.S. Federal Reserve Vice Chairman Janet Yellen yesterday told members of the Senate Banking Committee that if she succeeds Ben Bernanke as chairman of the central bank, she would continue with plans to wind down the Fed’s $85 billion-a-month bond-buying program if the economy improves. However, “There is no set time,” for the tapering to begin, she said.

“We have seen meaningful progress in the labor market,” she said. “What the [Fed] is looking for is signs that we will have growth that’s strong enough to promote continued progress.”