Q2 Productivity Growth Close to Trend, Revisions Show Nation Was Less Efficient than Earlier Estimate |
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Q2 Productivity Growth Close to Trend, Revisions Show Nation Was Less Efficient than Earlier Estimate Productivity of the U.S. economy grew at an annual rate of 2.2% in the second quarter of 2008, after a 2.6% increase in the prior quarter. The second quarter reading of productivity growth is close to the 2.1% trend growth in productivity. On a year-to-year basis, productivity rose 2.8% in the second quarter vs. a 3.3% increase in the first quarter. Unit labor costs (how much firms pay for
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