Business Briefs: US productivity up 2.3% in second quarter

In this July 24, 2019, photo, large cranes to unload container ships are shown at PortMiami in Miami. On Thursday, Sept. 5, the Labor Department issues revised data on productivity in the second quarter. (AP Photo/Wilfredo Lee)

U.S. productivity rose at a healthy pace in the second quarter but dropped at American factories, another sign of trouble for manufacturers.

The Labor Department said Thursday that overall productivity - output per hour worked - rose at a seasonally adjusted annual pace of 2.3% in the April-June period after rising 3.5% from January through March. The second-quarter figure was unchanged from an initial estimate last month.

But manufacturing productivity fell 2.2% in the second quarter, the worst performance since a 4% drop in the third quarter of 2017.

Mortgage rates fall to lowest point in 3 years

U.S. long-term mortgage rates fell this week, with the average on the key 30-year loan reaching its lowest point in nearly three years.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year mortgage declined to 3.49%