Upward revision of fourth-quarter productivity growth

March 07, 2003

Productivity in the nonfarm business sector—as measured by output per hour—increased at a revised seasonally adjusted annual rate of 0.8 percent in the fourth quarter of 2002.

[Chart data—TXT]

A preliminary estimate of -0.2 percent had been reported in February, based on information available at that time. The upward revision was mostly due to a larger increase in output than originally reported.

Output in the nonfarm business sector increased 1.7 percent in the fourth quarter, revised upward from a preliminary estimate of 0.8 percent. Hours of all persons were up 0.9 percent, slightly less than the 1.0 percent previously reported.

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 2002 (revised)" (PDF) (TXT), news release USDL 03-98.