Economic News Release

Multifactor Productivity Trends in Manufacturing News Release

For release 10:00 a.m.  (EDT) Thursday, August 11, 2011	         USDL-11-1188
Technical information:	(202) 691-5606  •  mfpweb@bls.gov  •  www.bls.gov/mfp
Media contact:	        (202) 691-5902  •  PressOffice@bls.gov


MULTIFACTOR PRODUCTIVITY TRENDS IN MANUFACTURING - 2009


Manufacturing sector multifactor productivity declined at a 5.7 percent annual
rate in 2009, the U.S. Bureau of Labor Statistics reported today. 
(See chart 1.) This was the largest annual decline in multifactor productivity
since the series started in 1987. (See table 1.) The multifactor productivity
decline in 2009 reflected a 12.5 percent decrease in output and a 7.2 percent
decrease in combined inputs. 

Multifactor productivity measures the change in output per unit of combined 
inputs. Multifactor productivity is designed to measure the joint influences
on economic growth of technological change, efficiency improvements, returns 
to scale, reallocation of resources, and other factors, allowing for the 
effects of capital, labor and, in the case of the manufacturing sector, also 
intermediate inputs (energy, materials, purchased business services). 
Multifactor productivity, therefore, differs from labor productivity 
(output per hour worked) measures that are published quarterly by BLS since it
includes information on capital services and intermediate inputs that are not 
available on a quarterly basis.

Durable manufacturing sector multifactor productivity decreased 8.0 percent in
2009, after increasing 2.2 percent in 2008. Nondurable manufacturing sector
multifactor productivity fell 3.1 percent in 2009, following a 2.2 percent 
decrease in 2008. In both sectors these were the sharpest declines in 
multifactor productivity since the series began in 1987.

Historical trends in manufacturing

Multifactor productivity in manufacturing grew 1.1 percent annually between 
1987 and 2009. Over the same period, sectoral output increased at a 1.5 
percent annual rate and combined inputs grew 0.4 percent; output per hour 
(labor productivity) increased 3.3 percent. For the 2000-2007 period, 
multifactor productivity in manufacturing grew more rapidly than in previous 
periods, averaging 2.0 percent per year. In contrast, for the 2007-2009 
period, multifactor productivity dropped 3.0 percent and output and all inputs
except capital services experienced steep declines. (See table A.)

Of the 3.3 percent growth rate in labor productivity for the 1987-2009 period,
1.1 percent can be attributed to increases in multifactor productivity, 0.7 
percent to the contribution of capital intensity, 0.1 percent to energy 
intensity, 0.9 percent to materials intensity, and 0.5 percent to purchased
business services intensity. Multifactor productivity, the contribution of
intermediate inputs, and the contribution of capital intensity may not sum to
output per hour due to independent rounding. (See table B.)

In 2009, almost no manufacturing industries exhibited increases in multifactor
productivity, output, or combined inputs. Of the 18 industries that comprise 
the manufacturing sector, only computer and electronic products experienced 
growth in multifactor productivity, and only food, beverage, and tobacco 
products exhibited growth in combined inputs. No industry had any increase in
output. (See chart 2.)

Revised measures

Previous and revised productivity measures and related data for 2007 and 2008 
for the manufacturing, durable manufacturing, and nondurable manufacturing 
sectors are displayed in table C. In 2008, multifactor productivity growth was
revised upward, showing a slight decline of 0.1 percent rather than the 0.7 
percent decrease reported previously. After revision, multifactor productivity 
for the nondurable manufacturing sector fell 2.2 percent rather than falling 
1.6 percent. In contrast, multifactor productivity in the durable 
manufacturing sector was revised upward to 2.2 percent from 0.3 percent. The 
revisions in both years were due to comprehensive revisions in source data in
the revised National Income and Products (NIPA) released on May 25, 2010 and 
annual revisions of the NIPA industry accounts released on December 14, 2010.

The manufacturing industry measures have been revised to reflect an improved
methodology for estimating the cost of materials. This revision is most 
notable in measures for apparel, leather, and allied products, and computer
and electronic products.

Table A.  Compound annual growth rates for productivity, sectoral output, and 
inputs in the manufacturing sector for selected periods, 1987 to 2009

In percent						
 	           1987-2008 1987-1990 1990-1995 1995-2000 2000-2007 2007-2008
			
Productivity						
   Multifactor 
   productivity1	 1.6      0.2       1.2      2.1      2.6    -0.7
   Output per hour  
   of all persons	 3.5	  1.8       3.4      4.8      3.9    -0.3
   Output per unit 
   of capital services	 0.0     -0.1       0.6      0.7     -0.1    -5.4
   						
Sectoral Output	         2.2      2.1       3.3      4.7      0.7    -4.4

Inputs
						
   Combined inputs2	 0.6	  1.9       2.1      2.5     -1.8    -3.7
      Hours3	        -1.2	  0.4      -0.1     -0.1     -3.1    -4.0
      Capital services   2.2	  2.3       2.7      4.0      0.8     1.1
      Energy	         0.5	  1.8       1.6      5.8     -3.8    -2.6
      Non-energy  
      materials          1.4	  1.7       3.6      5.5     -2.2    -5.3
      Purchased business  
      services	         1.1	  5.2       3.2      0.6     -0.9    -5.4
						
1Output per unit of combined hours, capital services, energy, materials, 
and purchased business services inputs.
2The growth rate of each input is weighted by its share of current dollar 
costs.
3Hours at work of all persons. 

Table B.  Compound annual growth rates in output per hour of all persons and
contributions of capital intensity, intermediate inputs intensity, and 
multifactor productivity in the manufacturing sector for selected periods, 
1987-2008

In percent						
	            1987-2008 1987-1990 1990-1995 1995-2000 2000-2007 2007-2008
Manufacturing						
						
Output per hour 
of all persons	          3.5	   1.8	    3.4       4.8	3.9	-0.3
						
Contribution of 
capital intensity1	  0.6	   0.3	    0.4       0.7	0.7	 1.0
						
      Contribution of 
      information 
      processing
      equipment 
      and software2	  0.2	   0.2	    0.2       0.4	0.2	 0.3
						
      Contribution
      of all
      other capital
      services            0.3	   0.1	    0.2       0.3	0.5	 0.8

Contribution of 
intermediate inputs3	  1.2	   1.3	    1.7       1.9	0.6	-0.6

      Contribution 
      of energy      
      intensity4	  0.1	   0.0	    0.0       0.2	0.0	 0.1
						
      Contribution 
      of materials    
      intensity5	  0.8	   0.4	    1.1       1.6	0.2	-0.4
						
      Contribution 
      of purchased   
      business 
      services 
      intensity6	  0.4	   0.8	    0.6       0.1	0.4	-0.2
						
Multifactor 
productivity7	          1.6	   0.2	    1.2       2.1	2.6	-0.7
						
1Growth rate in capital services per hour multiplied by capital's share of 
current dollar costs.
2Growth rate of information processing equipment and software per hour 
multiplied by its share of total current dollar costs.
3Growth rate in intermediate inputs per hour multiplied by intermediate inputs 
share of current dollar costs.
4Growth rate in energy services per hour multiplied by energy’s share of 
current dollar costs.
5Growth rate in materials services per hour multiplied by materials’ share of
current dollar costs.
6Growth rate in business services per hour multiplied by business services’
share of current dollar costs.
7 Output per unit of combined hours, capital services, energy, materials, and 
business services inputs.

Table C.  Previous and revised productivity and related measures for the 
2006-2007 and 2005-2006 periods
                                                  Inputs
                                                                       Purc-
                       Multi-   Sect- Com-         Cap-	 	       hased 
                       factor   oral  bined        ital                busi- 
                       Product- out-  In-          Serv-        Mater- ness
Sector                 ivity1   put   puts2 Hours3 ices  Energy ials   services
Annual percent change, 
2006-2007
Manufacturing								
Previous	          4.7	 1.6   -3.0   -1.7   0.5   -2.7	  -8.1	 -0.3
Revised	                  5.1	 2.4   -2.5   -1.7   1.2    6.0	  -7.2	 -0.8
Durable manufacturing							
Previous	          6.0	 2.1   -3.7   -2.1   0.6   -3.8	 -11.1	  0.2
Revised	                  4.9	 3.5   -1.3   -2.1   0.8    8.6	  -4.8	  2.2
Nondurable manufacturing						
Previous	          3.0	 1.1   -1.8   -1.1   0.4   -2.0	  -3.5	 -0.9
Revised	                  4.6	 1.3   -3.2   -1.0   1.4    4.3	  -6.4	 -4.7
								
Annual percent change, 
2005-2006
Manufacturing								
Previous                  2.5	 1.6   -0.9    0.7   0.5   -6.7	  -2.5	 -1.2
Revised	                  2.3	 1.5   -0.7    0.7   0.9   -7.8	  -1.7	 -1.6
Durable manufacturing		 				
Previous                  4.2	 3.1   -1.0    1.1   0.4   -7.5	  -4.0	 -0.9
Revised	                  3.2	 3.1   -0.1    1.1   1.0   -5.0	  -1.4	 -0.4
Nondurable manufacturing						
Previous   	          0.6	-0.1   -0.6    0.1   0.6   -6.3	  -0.5	 -1.5
Revised	                  1.1	-0.1   -1.2    0.0   0.8   -9.6	  -1.2	 -3.1
								
1Output per unit of combined hours, capital services, energy, materials, and 
purchased business services inputs.
2The growth rate of each input is weighted by its share of current dollar 
costs.
3Hours at work of all persons.





 

TECHNICAL NOTES

Capital Services: Capital services are the services derived from the stock of
physical assets and software.  There are 86 asset types for fixed business 
equipment and software, structures, inventories, and land.  The aggregate 
capital services measures are obtained by Tornqvist aggregation of the capital
stocks for each asset type within each of the eighteen manufacturing NAICS 
industry groupings using estimated rental prices for each asset type.  Each 
rental price reflects the nominal rate of return to all assets within the 
industry and rates of economic depreciation and revaluation for the specific
asset; rental prices are adjusted for the effects of taxes.  Data on
investments in physical assets and software are obtained from Bureau of 
Economic Analysis (BEA).  Nonfarm industry detail for land is based on IRS
book value data.  

Labor Hours: The construction of the hours measures follows the methodology
described in USDL 11-0435, Multifactor Productivity Trends, 2009,
http://www.bls.gov/news.release/pdf/prod3.pdf.  Hours in manufacturing are 
directly aggregated and do not include the effects of labor composition.  
Hours data for the manufacturing multifactor productivity measures include 
hours for all persons working in the manufacturing sector – wage and salary 
workers, the self-employed and unpaid family workers.  The primary source 
of hours data is the BLS Current Employment Statistics (CES) survey.  Hours
paid of production workers are also obtained primarily from the CES survey.
The hours of these employees are then converted to an at-work basis by using
information from the Employment Cost Index (ECI) of the National Compensation
Survey (NCS) and the BLS Hours at Work Survey.  Hours at work for nonproduction
workers are derived using data from the Current Population Survey (CPS), the 
CES, and the NCS.  The hours at work of proprietors are derived from the CPS.  
Hours at work data are based on underlying hours data published in the February 
3, 2011, USDL-11-0128, Productivity and Costs, 
http://www.bls.gov/news.release/archives/prod2_02032011.pdf.  Therefore, the
data do not reflect the benchmark revisions to the CES and other revisions to
hours released on February 4, 2011. 

Intermediate Inputs: In manufacturing, intermediate inputs consist of energy,
materials, and purchased business services, and represent a large share of 
production costs.  Research has shown that substitution among inputs, including
intermediate inputs, affects productivity change.  Therefore, it is important 
to account for intermediate inputs in productivity measures at the level of 
manufacturing.  In contrast, the more aggregate productivity measures compare
"value-added" output with two classes of inputs, capital and labor.  Because 
of these differences in concepts and methodology, productivity change in 
manufacturing cannot be directly compared with changes in private business or 
private nonfarm business.  
Data on intermediate inputs are obtained from BEA based on BEA annual 
input-output tables.  Tornqvist indexes of each of these three input classes
are derived at the 3-digit NAICS level and then aggregated to total 
manufacturing.  Materials inputs are adjusted to exclude transactions between
establishments within the same sector.

Combined Inputs: The five input indexes (capital services, hours, energy, 
materials, and purchased business services) are combined using Tornqvist 
aggregation, employing weights that represent each component's share of total
costs.  Total costs are defined as the value of manufacturing sectoral output.  

 
Capital Intensity:  Capital intensity is the ratio of capital to hours worked 
in the production process.  The higher the capital to hours ratio, the more 
capital intensive the production process is. Intermediate input intensities
are also estimated and interpreted in a similar manner to capital intensity.
In a production process, profit maximizing/cost-minimizing firms adjust the 
factor proportions of capital and labor if the price of one factor is less 
than the other factor; there would be a tendency for the firms to substitute 
the less expensive factor for the more expensive one.  In the short run, 
changes in hours worked are more variable than changes in capital services.  
Changes in hours worked in business cycles can result in volatility of the 
capital intensity ratio over short periods of time.  In the long run an 
increase in wages relative to the price of capital will induce the firm to 
substitute capital for labor, resulting in an increase in capital intensity.  
Rising labor costs are, in fact, an incentive for firms to introduce 
automated production processes.  Industry estimates of capital to hours ratios
can be obtained at http://www.bls.gov/mfp/mprdload.htm.

Sectoral Output: The output concept used for multifactor productivity in
manufacturing is “sectoral output”.   Sectoral output equals gross output 
(sales, receipts, and other operating income, plus commodity taxes plus 
changes in inventories), excluding transactions between establishments within
the same sector. In contrast, the output concept used for private business and
nonfarm business is “real value added”.  Real value added output in private 
business equals gross domestic product in the economy less general government,
government enterprises, private households (including the rental value of 
owner-occupied real estate), and non-profit institutions.  Real value added 
output excludes intermediate transactions between businesses.
The output index for manufacturing is computed using a chained superlative 
index (Tornqvist) of three-digit NAICS industry outputs.   Industry output is
measured as sectoral output, the total value of goods and services leaving the
industry. Wherever possible, the indexes of industry output are calculated with
a Tornqvist formula. This formula aggregates the growth rates of the various 
industry outputs between two periods, using their relative shares in industry 
value of production averaged over the two periods as weights.  Industry output
measures for manufacturing industries are constructed using data from the 
economic censuses and annual surveys of the Bureau of the Census, U.S. 
Department of Commerce, together with information on price changes, primarily 
from BLS. 

Multifactor Productivity: The manufacturing multifactor productivity measures
describe the relationship between output in real terms and the inputs involved
in its production.  Manufacturing multifactor productivity measures exclude
intermediate inputs between manufacturing establishments from both output and
inputs.  They do not measure the specific contributions of labor, capital, or
intermediate inputs.  Rather, they are designed to measure the joint influences
on economic growth of technological change, efficiency improvements, returns 
to scale, reallocation of resources due to shifts in factor inputs across 
industries, and other factors.  The multifactor productivity indexes are 
derived by dividing an output index by an index of the combined inputs of
labor, capital services, energy, non-energy materials, and purchased business 
services.  

Other information: Comprehensive tables containing more detailed data than 
that which is published in this press release are available upon request at
202-691-5606 or at http://www.bls.gov/mfp/mprdload.htm.  More detailed
information on methods, limitations, and data sources of capital and labor are
provided in BLS Bulletin 2178 (September 1983), Trends in Multifactor 
Productivity, 1948-81 and on the BLS Multifactor Productivity website under
the title “Technical Information About the BLS Multifactor Productivity
Measures”for Major Sectors and 18 NAICS 3-digit Manufacturing Industries at
http://www.bls.gov/mfp/mprtech.pdf.  Methods for measuring manufacturing 
multifactor productivity are discussed in "Measurement of productivity growth
in U.S. manufacturing” in the July 1995 issue of the Monthly Labor Review. 
See http://www.bls.gov/mfp/mprgul95.pdf.  
 
 


Table 1. Manufacturing sector: productivity and related measures for the 
         1987-2009 period 			
										
Annual percent change from previous year							
      
      Productivity	 	          Inputs
      Output  Output  Multi-                                  Purc-    Comb-  
      per     per     factor Sect-	  Cap-	              hased    ined
      hour    unit    Prod-  oral         ital                busi-    units 
      of all  of      uctiv  out-	  Serv-  Ene-  Mater- ness     of all    
Year  persons capital ity1   put   Hours2 ices4  rgy   ials   services inputs3  
1988   2.1     3.3     2.0   5.2    3.0    1.8   4.1    1.0     8.7      3.1
1989   1.0    -0.7    -0.5   1.6    0.6    2.4  -0.3    2.1     5.8      2.1
1990   2.2    -3.0    -0.7  -0.3   -2.5    2.7   1.9    1.7     1.5      0.4
1991   2.6    -3.9    -0.4  -1.7   -4.2    2.3  -0.3   -0.5    -0.8     -1.3
1992   3.8     1.0    -0.6   3.3   -0.5    2.2  -1.0    8.6     7.5      4.0
1993   2.6     1.5     2.6   3.9    1.3    2.4   3.4    0.8     0.8      1.3
1994   3.5     3.3     2.6   5.9    2.3    2.5   3.6    4.3     3.9      3.3
1995   4.5     1.7     1.8   5.2    0.7    3.5   2.9    5.4     4.9      3.4
1996   3.6    -0.6     0.3   3.4   -0.2    4.1  -2.7    9.0    -0.3      3.1
1997   5.4     2.8     2.7   7.3    1.8    4.5  -2.0    8.0     4.1      4.5
1998   5.6     0.7     1.3   5.3   -0.3    4.6   3.8    8.4     3.4      4.0
1999   4.9     0.4     1.2   4.2   -0.7    3.8  23.3    6.2     0.9      3.0
2000   4.4     0.2     3.6   3.1   -1.3    2.9   9.1   -1.9    -1.3     -0.5
2001   1.9    -6.2    -1.1  -4.8   -6.5    1.6   9.3   -6.3    -1.7     -3.7
2002   7.3    -1.3     3.2  -0.3   -7.1    1.0 -22.6    1.0    -3.2     -3.4
2003   6.2     0.6     3.6   1.0   -4.9    0.4 -10.7   -1.7    -0.6     -2.4
2004   2.3     2.1     3.7   1.7   -0.5   -0.3  -6.3   -0.8    -6.4     -1.9
2005   4.7     3.0     1.4   3.6   -1.1    0.6  10.1    1.5     8.9      2.1
2006   0.9     0.8     2.4   1.6    0.7    0.8  -7.8   -1.8    -1.6     -0.8
2007   3.9     0.7     0.8   2.2   -1.7    1.4   8.6    0.0     7.3      1.4
2008  -0.4    -7.0    -0.1  -4.4   -4.0    2.8   3.9   -5.0   -11.9     -4.3
2009   0.1   -13.6    -5.7 -12.5  -12.6    1.2 -11.4   -8.0    -5.3     -7.2

1. Output per unit of combined hours, capital services, energy, materials, 
   and purchased business services inputs.
2. Hours at work of all persons.
3. Combined units of hours, capital services, energy, materials, and 
   purchased business services, superlative chained index.

Source:  Output data are from the Bureau of the Census, U.S. Department of 
         Commerce, and modified by the Bureau of Labor Statistics, 
         U.S. Department of Labor.  Compensation and hours data are from 
         the Bureau of Labor Statistics.  Capital measures are based on data 
         supplied by the Bureau of Economic Analysis.  
         See also Technical Notes in this release.

Table 2.Manufacturing sector: indexes of productivity and related 
        measures, 1987-2009 			
										
Indexes 2005=100									
      
      Productivity	 	           Inputs
	
      Output  Output  Multi-                                 Purc-    Comb-  
      per     per     factor Sect-	   Cap-	             hased    ined
      hour    unit    Prod-  oral          ital              busi-    units 
      of all  of      uctiv  out-	   Serv- Ene- Mater- ness     of all    
Year  persons capital ity1   put   Hours2  ices4 rgy  ials   services inputs3  
										
1987  51.0    95.9    76.9   62.9  123.2   65.6  83.8  63.8   71.0     81.7
1988  52.1    99.1    78.5   66.1  126.9   66.8  87.3  64.4   77.2     84.2
1989  52.6    98.4    78.1   67.2  127.7   68.3  87.0  65.8   81.7     86.0
1990  53.8    95.4    77.5   67.0  124.5   70.2  88.6  66.9   82.9     86.4
1991  55.2    91.7    77.2   65.8  119.3   71.8  88.4  66.6   82.3     85.2
1992  57.3    92.7    76.8   68.0  118.7   73.4  87.5  72.3   88.4     88.6
1993  58.8    94.1    78.7   70.7  120.3   75.1  90.4  72.9   89.1     89.7
1994  60.8    97.2    80.8   74.9  123.1   77.0  93.7  76.0   92.6     92.7
1995  63.6    98.8    82.2   78.8  123.9   79.7  96.4  80.2   97.1     95.8
1996  65.9    98.2    82.4   81.5  123.6   83.0  93.8  87.4   96.8     98.8
1997  69.5   100.9    84.7   87.4  125.8   86.7  91.9  94.4  100.8    103.3
1998  73.4   101.6    85.8   92.1  125.5   90.7  95.4 102.4  104.2    107.3
1999  77.0   102.0    86.8   95.9  124.7   94.1 117.7 108.7  105.2    110.5
2000  80.4   102.1    89.9   98.9  123.1   96.8 128.4 106.7  103.8    110.0
2001  81.9    95.7    88.9   94.2  115.0   98.4 140.3 100.0  102.0    105.9
2002  87.9    94.5    91.8   93.9  106.9   99.3 108.6 101.0   98.7    102.3
2003  93.3    95.1    95.1   94.9  101.6   99.7  97.0  99.3   98.1     99.8
2004  95.5    97.1    98.6   96.5  101.1   99.4  90.8  98.5   91.8     97.9
2005 100.0   100.0   100.0  100.0  100.0  100.0 100.0 100.0  100.0    100.0
2006 100.9   100.8   102.4  101.6  100.7  100.8  92.2  98.2   98.4     99.2
2007 104.9   101.6   103.2  103.8   99.0  102.2 100.1  98.3  105.6    100.6
2008 104.5    94.5   103.1   99.2   95.0  105.1 104.0  93.4   93.0     96.3
2009 104.5    81.6    97.2   86.8   83.0  106.4  92.2  85.9   88.1     89.3

1. Output per unit of combined hours, capital services, energy, materials, 
   and purchased business services inputs.
2. Hours at work of all persons.
3. Combined units of hours, capital services, energy, materials, 
   and purchased business services, superlative chained index.

Source:  Output data are from the Bureau of the Census, U.S. Department of 
         Commerce, and modified by the Bureau of Labor Statistics, 
         U.S. Department of Labor.  Compensation and hours data are from 
         the Bureau of Labor Statistics.  Capital measures are based on data 
         supplied by the Bureau of Economic Analysis.  
         See also Technical Notes in this release.

Table 3. Multifactor productivity measures for manufacturing industries
in selected periods, 1987-2009

Compound annual growth rates 


                        1987-  1987-  1990-   1995-  2000-  2007-  2008- 
                        2009   1990   1995    2000   2007   2009   2009  

								
Manufacturing 	         1.1    0.3    1.2     1.8    2.0  -3.0	   -5.7
							
Nondurable 
  manufacturing	         0.1   -0.5    0.7    -0.2    1.0  -2.7	   -3.1
Food, beverage, 
  and tobacco products  -0.2   -1.6    1.4    -1.7    0.8  -2.2	   -1.4
Textile mills and
  textile product mills  1.0    1.1    0.7     1.5    1.7  -2.3	   -8.7
Apparel, leather,
  and allied products    2.1    0.0    2.9     0.6    4.4  -0.8	   -8.7
Paper products	         0.1   -0.2   -0.1     0.5    0.7  -2.2	   -1.3
Printing and related
  support activities     0.3    1.0   -0.2    -0.5    1.3  -1.3	   -4.1
Petroleum and coal 
  products	         0.8    0.8    0.8     1.1    0.3   2.0	   -1.7
Chemical products       -0.4   -0.9   -0.7    -0.5    1.9  -6.4	   -4.6
Plastics and 
  rubber products        0.3    0.8    0.5     1.2    0.5  -4.3	   -3.6
							
							
Durable manufacturing    1.8    0.9    1.5     3.3    2.8  -3.0	   -8.0
Wood products 	        -0.5    1.0   -1.3    -0.3    0.9  -6.1	  -12.8
Nonmetallic 
  mineral products      -0.2    0.2    0.8     0.1   -0.7  -2.5    -4.5
Primary metals           0.0    1.0    0.0     0.3   -0.4  -1.3	   -3.7
Fabricated metal
  products 	        -0.4   -0.1    1.0    -0.2    0.6  -8.4	  -15.6
Machinery 	        -0.3    1.0   -1.9    -1.2    1.2  -1.6	   -2.9
Computer and 
  electronic products    9.7    5.5    9.3    14.4    9.8   5.1	    2.4
Electrical equipment,
  appliances, and 
  components	        -0.9   -2.4   -2.4    -2.6    1.4   1.4	   -1.0
Transportation
  equipment 	        -0.2   -1.6   -0.5     0.5    1.7  -5.0	  -11.6
Furniture and 
  related products      -0.4   -0.7    0.6     0.6    1.1  -9.7	  -12.2
Miscellaneous                                            
  manufacturing          1.6    2.6   -0.1     2.4    2.2   0.4	   -0.9


Note: Multifactor productivity measures by industry do not sum up to aggregate 
      manufacturing measures because industry measures exclude transactions 
      only within the specific industry while the aggregate manufacturing 
      measures also exclude transactions between all manufacturing industries.

Last Modified Date: August 11, 2011
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