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Productivity growth in 2003 revised upward

March 05, 2004

Productivity in the nonfarm business sector—as measured by output per hour—increased at a revised rate of 4.4 percent in the nonfarm business sector during 2003.

Previous and revised productivity and related measures, nonfarm business, 2003 (percent change)
[Chart data—TXT]

A preliminary estimate of 4.2 percent had been reported on February 5, based on information available at that time. The upward revision in productivity growth was due to a larger decrease in hours than originally reported.

Output in the nonfarm business sector grew 3.7 percent in 2003; this increase is the same as the preliminary estimate. Hours of all persons were down 0.7 percent, following an initially reported decline of 0.5 percent.

During 2002, productivity had increased 5.0 percent in nonfarm business, as output rose 2.3 percent and hours of all persons fell 2.6 percent.

These data are from the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, Fourth Quarter 2003, Revised" (PDF) (TXT), news release USDL 04-337.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity growth in 2003 revised upward on the Internet at http://www.bls.gov/opub/ted/2004/mar/wk1/art05.htm (visited December 18, 2014).

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