Upward revision of productivity growth in first quarter
June 04, 2004
Productivity in the nonfarm business sector—as measured by output per hour—increased at a revised seasonally adjusted annual rate of 3.8 percent in the first quarter of 2004.
[Chart data—TXT]
A preliminary estimate of 3.5 percent had been reported on May 6, based on information available at that time. The productivity revision reflects a larger upward revision to output than to hours.
Output in the nonfarm business sector grew at an annual rate of 5.4 percent in the first quarter, revised upward from a preliminary estimate of 4.9 percent.
Hours of all persons were up 1.5 percent, following an initially reported estimate of 1.3 percent (seasonally adjusted annual rates).
These data are from the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, First Quarter 2004, Revised" (PDF) (TXT), news release USDL 04-995.
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