Upward revision of second quarter 2003 productivity growth
September 05, 2003
Productivity in the nonfarm business sector—as measured by output per hour—increased at a revised seasonally adjusted annual rate of 6.8 percent in the second quarter of 2003.
[Chart data—TXT]
A preliminary estimate of 5.7 percent had been reported on August 7, based on information available at that time. The upward revision was due primarily to a larger increase in output than originally reported.
Output in the nonfarm business sector grew 4.4 percent in the second quarter, revised upward from a preliminary estimate of 3.4 percent. Hours of all persons were down 2.3 percent, following an initially reported decline of 2.2 percent.
These data are from the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, Second Quarter 2003, Revised" (PDF) (TXT), news release USDL 03-466.
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