Small revision in first-quarter productivity growth
June 03, 2002
Productivity in the nonfarm business sector, as measured by output per hour, increased at a revised seasonally adjusted annual rate of 8.4 percent in the first quarter of 2002. A preliminary estimate of 8.6 percent had been reported early in May, based on information available at that time.
[Chart data—TXT]
The increase in output per hour in the first quarter was the largest since the second quarter of 1983, when growth was 9.9 percent.
The rise in output in the first quarter was revised downward from 6.5 percent to 6.1 percent. The movement in hours was also revised downward, from a decrease of 1.9 percent to a decrease of 2.1 percent. Hours worked in the nonfarm business sector now have declined in seven of the last eight quarters.
These data are a product of the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, First Quarter 2002 (revised), (PDF) (TXT) news release USDL 02-318.
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