Growth in manufacturing productivity slows

Manufacturing News, Source : TheManufacturer.com
Published : 23 Dec 2004 11:05

In the third quarter of 2004, manufacturing productivity, on an output per job basis, increased by 4.2 per cent compared with the same quarter of 2003, but down from growth of 6.2 per cent for the previous quarter.

According to the latest government statistics, the decrease in productivity growth was mainly due to a slower rate of output growth than in the previous quarter.

On a quarter on previous quarter basis, manufacturing productivity rose by 0.1 per cent in the third quarter of 2004, down from a rise of 1.7 per cent in the previous quarter. The slower rate of productivity growth is explained by a fall in output, which was partially offset by a faster rate of jobs decrease.

Overall manufacturing unit wage costs showed an annual decline of 0.8 per cent, up from a decline of 1.7 per cent in the previous quarter.

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