Figure 3. MFP, output, and combined inputs: average annual growth rates for selected periods, private nonfarm business sector, 1948–2018
Period MFP growth Real value-added output growth Combined inputs growth

1948–60

 1.7 3.6 1.8

1960–73

 2.0 4.8 2.7

1973–81

 0.0 2.5 2.5

1981–97

 0.7 3.6 2.9

1997–2005

 1.7 3.7 2.0

2005–18

 0.4 2.1 1.6

Long-term historical average (1948–2018)

 1.1 3.4 2.3

Note: MFP = multifactor productivity.

Source: U.S. Bureau of Labor Statistics.