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Article: Multifactor productivity in manufacturing, 2001.(Labor Month in Review)(Brief Article)
- Article from:
- Monthly Labor Review
- Article date:
- March 1, 2004
CopyrightCOPYRIGHT 2004 U.S. Bureau of Labor Statistics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Multifactor productivity--measured as output per unit of combined inputs--fell by 0.8 percent in manufacturing in 2001. The decline was the first in 10 years. The decline in multifactor productivity was the result of a 4.5-percent decline in manufacturing output and a 3.7-percent decrease in combined inputs. Capital services posted a 1.5-percent advance in 2001. In contrast, hours fell 5.6 percent. On average, multifactor productivity in manufacturing has grown 1.2 percent annually from 1949 to 2001.
Multifactor productivity is designed to ...