Multifactor productivity.(Brief article)(Statistical data)

Monthly Labor Review | January 1, 2007 | Copyright

In the manufacturing sector, multifactor productivity grew just slightly faster in 2003 than in 2002, and fell in 2004. Multifactor productivity measures the joint influences of technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors on economic growth, allowing for the effects of capital and labor.

Multifactor productivity in manufacturing rose 3.9 percent in 2002. Until the slightly larger increase in 2003, this had been the largest rate of increase in the time series, which goes back to 1987. The multifactor ...

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