US productivity levels rise
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 07 Nov 2002 16:40
The Labor Department today reported a rise in productivity levels for the third quarter.
The preliminary annual rates of productivity growth in the third quarter were 4.3% in the business sector and 4% in the nonfarm business sector.
According to economic experts, the strong productivity figures are one factor in yesterday’s decision by the Federal Reserve to cut interest rates by half a point. Inflation rates are being kept low by gains in productivity, and Fed policy-makers hope the rate cut will motivate business to step up investment, boosting economic growth.
Manufacturing productivity increased by 5.9% overall, with a 8.8% increase in the durable goods sector and a 2% rise in the nondurable goods sector. This compares with a 4.2% rise reported for the previous quarter (as revised).
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...