Q4 productivity falls 0.2%
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Manufacturing News, Source : TheManufacturer.com
Published : 07 Feb 2003 21:33
Productivity at US manufacturers fell short of analysts’ expectations in fourth quarter 2002, despite its overall annual productivity increase being ranked as the biggest in 50 years, the Labor Department reported.
Non-farm productivity fell by 0.2%, versus a 5.5% increase the previous quarter. In 2002, productivity grew 4.7%.
The key thing is that over the last year, productivity growth has been very strong, said Ian Shepherdson, chief US economist at High Frequency Economics. The message that I would take from this would be to look at the year over year, rather than the quarter to quarter, he said.
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