Reports Hint At Economic Slowdown

A key measure of American workers’ productivity grew at a healthy though considerably slower pace in the third quarter, while labor costs picked up.

That and other reports released Thursday showing a key measure of economic activity unchanged in September and disappointing sales by major retailers in October added to mounting evidence that the nation’s economy is slowing to a more sustainable pace, analysts said.

Productivity - the amount of output per hour of work - rose at an annual rate of 3.8 percent during the July-September quarter after a sizzling 6.1 percent rate of growth posted in the second quarter, the Labor Department said.

On Wall Street, The Nasdaq composite index rose 95.63 to 3,429.02, while the Dow Jones industrial average closed down 18.96 at 10,880.51.