Revised data shows increased productivity
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Manufacturing News, Source : TheManufacturer.com
Published : 03 Dec 2003 18:01
The US Department of Labor’s Bureau of Labor Statistics today reported revised productivity data for the third quarter of 2003, showing an increased rise in manufacturing productivity.
In manufacturing, revised productivity increases in the third quarter were nine percent in manufacturing, 14.8 percent in durable goods manufacturing, and 3.1 percent in nondurable goods manufacturing, all slightly higher than the preliminary third-quarter figures released in November.
Manufacturing output increased 3.5 percent and hours of all persons dropped five percent. Hours of all persons in manufacturing have fallen for thirteen consecutive quarters.
In durable goods industries, productivity rose by 14.8 percent, reflecting an 8.1-percent rise in output and a decline of 5.9 percent in hours. Productivity grew much more slowly in the nondurable goods industries, 3.1 percent, as output fell 0.8 percent and hours fell more, 3.8 percent.
The seasonally adjusted annual rates of productivity growth in the third quarter were 8.6 percent in the business sector as a whole, and 9.4 percent in the non-farm business sector.
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