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Internet address: http://stats.bls.gov/mprhome.htm Historical, technical USDL 99-36 information: (202) 606-5606 For Release: 10:00 AM EST Media contact: (202) 606-5902 Thursday February 11, 1999 MULTIFACTOR PRODUCTIVITY TRENDS, 1997 Private Business, Private Nonfarm Business, and Manufacturing The Bureau of Labor Statistics of the U.S. Department of Labor today reported multifactor productivity data--output per unit of combined labor and capital inputs--for 1997. Multifactor productivity differs from the labor productivity (output per hour) measures that are published quarterly by BLS. Multifactor productivity, unlike labor productivity, requires information on capital services and other data that are not available on a quarterly basis. In the most recent year available, multifactor productivity in the private business and private nonfarm business sectors changed at the following percentage rates: 1996-97 Private business 0.7 Private nonfarm business 0.4 CHART 1 GOES HERE, BUT IT IS OMITTED FROM THIS DOCUMENT Chart 1 shows the annual indexes of multifactor productivity, output per hour worked, and output per unit of capital services for 1948-1997. Output per hour historically has grown at a faster rate than multifactor productivity. This reflects changes in the contribution of capital intensity (the capital-hours ratio) and changes in the contribution of labor composition, factors that are controlled for in the multifactor productivity measures. However, the short-term fluctuations of multifactor productivity and output per hour generally move in the same direction. Multifactor productivity increased for the sixth consecutive year in both the private business and private nonfarm business sectors. The 1997 annual changes are summarized in table A; further detail and historical measures are shown in tables 1 through 8. Table A. Productivity and related data, percent changes, 1996-97 Private Private Nonfarm Business1 Business1 Productivity Multifactor Productivity2 0.7 Output per hour of all persons 1.5 Output per unit of capital services 0.3 Output 4.7 Inputs Labor input3 3.7 Capital services 4.4 Combined units of labor and capital inputs4 Analytic ratio: Capital services per hour of all persons 0.4 1.2 0.0 4.5 3.9 4.5 3.9 1.2 4.1 1.2 1. Excludes government enterprises. 2. Output per unit of combined labor and capital inputs. 3. Index of hours worked; hours worked by education and experience group are weighted by each group's share of labor compensation. 4. Labor input index combined with capital service input index, weighted by labor's and capital's shares of nominal output. Private business and private nonfarm business For private business and private nonfarm business, the change in multifactor productivity reflects the difference between the change in real gross domestic product for the sector and the change in labor and capital inputs engaged in the production of this output. The output measures for private business and private nonfarm business are similar to the indexes of output for business and nonfarm business used in the quarterly labor productivity measures. The difference is that the output of government enterprises is omitted. Multifactor productivity does not measure the specific contributions of labor, capital, or any other factor of production. Instead, it reflects the joint effects of many factors, including new technology, economies of scale, managerial skill, and changes in the organization of production. A change in multifactor productivity reflects the change in output that cannot be accounted for by the change in combined inputs of labor and capital. In contrast, a change in labor productivity reflects the change in output that cannot be accounted for by the change in hours of all persons engaged in production. Changes in 1996-97 Private business sector Multifactor productivity rose 0.7 percent in 1997, after having risen 1.7 percent in 1996 (tables 1 and 4). Multifactor productivity has not declined since the recession year of 1991. The multifactor productivity gain in 1997 reflected a 4.7 percent increase in output and a 3.9 percent increase in the combined inputs of capital and labor. The growth in output was the largest since 1984. In 1997, for the third year in a row, capital services grew faster than labor input. Capital services accelerated to a growth rate of 4.4 percent -- the steepest gain since 1985. Equipment and inventories grew most rapidly (table 7). Equipment posted its largest growth, 8.0 percent, since 1980. Labor input growth was 3.7 percent, the largest increase since 1994. Most of the rise in labor input was due to gains in employment (2.6 percent). Changes in the distribution of workers by educational attainment and work experience accounted for 0.6 percent. The remainder was due to a small increase in average weekly hours. Labor productivity (output per hour worked) grew 1.5 percent in 1997. Capital productivity (output per unit of capital services) grew 0.3 percent. Capital services per hour posted a gain of 1.2 percent. Private nonfarm business Multifactor productivity in the private nonfarm business sector increased by 0.4 percent in 1997. This was the sixth consecutive year of growth. Output rose 4.5 percent, and combined units of capital and labor inputs advanced 4.1 percent. The percentage increases in output and in combined inputs were the highest since 1984. Labor input grew 3.9 percent; most of this growth was due to increased employment. Capital services grew 4.5 percent, the largest gain since the mid-1980s. The fastest growing components of capital services were the services of equipment and of inventories (table 7). Equipment posted its steepest gain since 1980. Labor productivity grew 1.2 percent in 1997. Capital productivity showed no change. In 1997, capital services per hour increased for the third straight year, posting a 1.2 percent gain. Long-term trends in private business and private nonfarm business Labor productivity growth (output per hour) differs from multifactor productivity (output per unit of combined capital and labor inputs) in the treatment of both capital and hours. Labor productivity measures do not explicitly account for the effects of capital or shifts in the composition of labor on output growth. As a result, changes in capital intensity (the capitalhours ratio) and labor composition can influence labor productivity growth. However, multifactor productivity (MFP) treats capital as an explicit factor of production, and so it is computed net of changes in capital intensity. In addition, BLS measures labor input as the combined effect of changes in hours at work and shifts in the educational attainment and work experience of the work force. Therefore, MFP is computed net of changes in labor composition as well. Long-term labor productivity growth (output per hour) can be viewed as the sum of three components: multifactor productivity growth, the contribution of increased capital intensity, and the contribution of shifts in labor composition (table B and chart 2). The contribution of capital intensity equals the change in the capital-hours ratio multiplied by capital's share of total costs. The contribution of labor composition equals the difference between the growth rate of labor input and the growth rate of hours multiplied by labor's share of total costs. Historically, capital's share has been slightly less than onethird of total costs. From 1948 to 1997, output per hour grew at an annual rate of 2.3 percent in private business and 2.0 percent in private nonfarm business (table B). Of the 2.3 percent growth rate in labor productivity in private business, 1.3 percent can be attributed to increases in multifactor productivity, 0.7 percent to the contribution of capital intensity, and 0.2 percent to changes in labor composition. (Note that the sum of multifactor productivity and the contributions of capital intensity and labor composition may not equal labor productivity due to independent rounding.) The trends in the private nonfarm business sector were similar. Table B. Compound average annual rates of growth in output per hour of all persons, the contributions of capital intensity, labor composition, and multifactor productivity, by major sector, 1948 to 1997 (percent per year) 1948-97 1948-73 1973-79 1979-90 1990-97 Private business1 Output per hour of all persons 2.3 3.3 1.3 1.2 1.3 Contribution of capital intensity2 0.7 0.9 0.6 0.7 0.4 Contribution of labor composition3 0.2 0.2 0.0 0.3 0.4 Multifactor productivity4 1.3 2.1 0.5 0.2 0.5 Private nonfarm business1 Output per hour of all persons 2.0 2.9 1.1 1.0 1.2 Contribution of capital intensity2 0.7 0.8 0.6 0.7 0.4 Contribution of labor composition3 0.2 0.1 0.0 0.3 0.4 Multifactor productivity4 1.1 1.9 0.4 0.0 0.4 Contribution of R&D to multifactor productivity 0.2 0.2 0.1 0.2 0.2 1. Excludes government enterprises. 2. Growth rate in capital services per hour times capital's share of current dollar costs. 3. Growth rate of labor composition (the growth rate of labor input less the growth rate of hours of all persons) times labor's share of current dollar costs. 4. Output per unit of combined labor and capital inputs. Note: The sum of multifactor productivity and the contributions may not equal labor productivity due to independent rounding. CHART 2 GOES HERE, BUT IT IS OMITTED FROM THIS DOCUMENT From 1948 to 1973, multifactor productivity grew at an average annual rate of 2.1 percent in private business and 1.9 percent in private nonfarm business. These rates, combined with the growth rates of the contributions of capital intensity and labor composition, resulted in labor productivity growth rates of 3.3 percent and 2.9 percent, respectively, in private business and private nonfarm business. The post-1973 productivity slowdown is apparent in chart 2. During the period 1973 to 1979, gains in multifactor productivity slowed to only 0.5 percent per year in private business. At the same time, the average annual contribution of capital intensity to labor productivity growth decreased to 0.6 percent, and labor composition made no contribution. Labor productivity, therefore, increased only 1.3 percent per year from 1973 to 1979. A similar slowdown occurred in private nonfarm business during the 1973-79 period. Between 1979 and 1990, multifactor productivity growth was 0.2 percent in private business and unchanged in private nonfarm business. Output per hour, nevertheless, continued to advance at almost the same rates as in the 1973-79 period. The contribution of labor composition increased to 0.3 percent per year in both sectors, essentially offsetting the decline in multifactor productivity growth. During the 1990-97 period, labor productivity advanced at an annual rate of 1.3 percent in the private business sector and 1.2 percent in nonfarm business. However, the sources of labor productivity shifted after 1990. The contribution of capital services slowed from 0.7 percent per year during the 1979-90 period to only 0.4 percent per year in private business. As the baby boom generation completed its entrance into prime working age, the contribution of labor composition accelerated to 0.4 percent per year. Multifactor productivity grew 0.5 percent per year. Trends in private nonfarm business were similar. Contribution of R&D to multifactor productivity in private nonfarm business While MFP reflects many influences, it is generally believed that technological change is one of the primary contributors. For private nonfarm business, BLS also reports estimates of the direct effects of firms' spending for research and development (R&D) on MFP growth within their own industries. Because many people associate R&D spending and the resulting technological improvements with productivity, BLS has not adjusted MFP to exclude the effects of R&D. The contribution of R&D averaged 0.2 percent per year for the entire 1948-97 period, accounting for more than ten percent of multifactor productivity growth (table B). The contribution of R&D was 0.2 percent during the 1948-73 period, slowed to 0.1 percent during the 1973-79 period, and returned to 0.2 percent for the periods 1979-90 and 1990-97. Manufacturing The BLS multifactor productivity measures (MFP) for manufacturing differ in several ways from those for private business and private nonfarm business measures in their treatment of labor input, output, and classes of factor inputs. First, the manufacturing measure of labor input is a direct aggregate of hours. This is in contrast to the major sector measures for which estimates of the effects of changing labor composition have been developed. In addition, the output concept used for the data on multifactor productivity in manufacturing is "sectoral output." Sectoral output is similar to gross output, but excludes shipments from one manufacturing establishment to another. The resulting multifactor productivity measure compares what is produced in the manufacturing sector for use outside of manufacturing with the inputs used in the manufacturing process obtained from outside of manufacturing. The comparison excludes flows between manufacturing establishments from measures of both output and inputs. Finally, MFP in manufacturing compares "sectoral output" to three classes of inputs: 1) hours at work of labor employed within manufacturing; 2) capital services employed by manufacturing establishments; and 3) purchases of energy, materials, and business services from outside of manufacturing (intermediates). In manufacturing, intermediates are the largest input in terms of costs. Furthermore, research has shown that substitution among inputs, including intermediates, affects productivity change. It is therefore important to include intermediates in productivity measures at the level of manufacturing. In contrast, the more aggregate productivity measures in this release compare "value-added" output with two classes of inputs, capital and labor. Because of all these differences in methods, productivity change in manufacturing cannot be directly compared with changes in private business or private nonfarm business. Manufacturing productivity in 1996 and historical trends Measures of multifactor productivity and related measures have been revised to incorporate additional data not available for the May 6, 1998, release. Manufacturing measures are now benchmarked to the 1992 input-output table, and measures from 1988 through 1996 reflect this additional information. Other revisions to manufacturing data are described on page 10. Multifactor productivity in manufacturing rose 2.1 percent in 1996 (table C). While multifactor productivity growth slowed from the 3.9 percent rate recorded for 1995, the increase was still larger than the average over the postwar period (tables 3 and 6). Table C. Productivity and related data in manufacturing, percent changes, 1949-96 (percent per year) Productivity Multifactor Productivity1 1949- 1949- 1973- 1979- 1990- 1994- 199596 73 79 90 96 95 96 1.2 1.5 -0.5 1.0 1.7 3.9 2.1 Output per hour of all persons persons Output per unit of capital services Sectoral Output 2.6 -0.4 3.2 2.6 2.1 2.6 3.4 3.9 4.1 -0.1 -2.0 -0.9 0.9 1.5 0.2 3.2 4.3 3.7 4.0 2.5 1.9 Inputs Hours2 0.6 1.4 0.3 -0.7 -0.2 0.4 -0.4 Capital services 3.6 4.0 4.6 2.8 2.3 2.8 3.5 Energy 2.8 4.9 0.8 0.3 1.1 2.1 -2.3 Non-energy materials 2.6 2.3 5.9 1.7 2.4 -2.8 3.9 Purchased 4.2 5.1 5.5 1.9 3.3 2.9 0.6 business services Combined inputs3 2.0 2.4 3.0 0.9 1.5 0.4 1.6 1. Output per unit of combined hours, capital, energy, materials and purchased business services inputs. 2. Hours at work of all persons. 3. The growth rate of each input is weighted by its share of nominal costs. In 1996, the 2.1 percent gain in multifactor productivity was accompanied by a 3.7 percent advance in sector output and a 1.6 percent increase in combined inputs. Output growth was similar to gains in recent years. The increase in combined inputs was slightly below the postwar average. Energy use declined 2.3 percent in 1996, the largest decrease since 1985. Materials reversed its 1995 decline with a gain in 1996 of 3.9 percent. Capital services continued its strong growth, posting a 3.5 advance, the largest increase since 1981. Hours declined 0.4 percent. Multifactor productivity grew 1.2 percent annually between 1949 and 1996. Sectoral output increased at a 3.2 percent annual rate, and combined inputs rose 2.0 percent per year (table C). Unlike the private business and private nonfarm business sectors, the productivity slowdown in manufacturing was confined to the 1973-79 period. Multifactor productivity, which had been growing 1.5 percent annually prior to 1973, fell 0.5 percent per year between 1973 and 1979. Since the growth rate of combined inputs did not increase much after 1973, the decline in the growth rate of productivity was associated mainly with slower output growth. Between 1979 and 1990, multifactor productivity growth in manufacturing rebounded sharply to 1.0 percent per year. Sectoral output growth continued to slow, and, in this period, input growth rates also fell. Hours declined, and the growth rates for both capital services and materials fell sharply. As a result, combined inputs grew less than 1 percent annually. The rebound in productivity is associated mainly with slower growth in combined inputs. Between 1990 and 1996, multifactor productivity growth accelerated, exceeding the pre-1973 growth rate. Multifactor productivity advanced 1.7 percent per year during this period, primarily because output growth nearly doubled to 3.2 percent per year while combined inputs rose only 1.5 percent annually. The decline in hours abated, and there was a large increase in the growth rate of materials. Energy use showed a modest gain of 1.1 percent per year after 1990. Among detailed manufacturing industries, electrical and electronic machinery and textile mills reported the largest longterm gains in multifactor productivity (table 8). Over the 194996 period, multifactor productivity fell gradually in the printing and publishing industry. Since 1990, productivity in electrical and electronic machinery has grown rapidly at 8.9 percent per year. Industrial and commercial machinery also has posted large productivity gains of 4.6 percent annually. Revisions Beginning with the May 6, 1998, release of these data, historical data for multifactor productivity in all sectors and industries reflect several important changes and revisions to the data sources used to develop these series. As announced in the May 6, 1998, Multifactor Productivity Trends, the measures reflect new work by the Bureau of Economic Analysis (BEA), U.S. Department of Commerce, on fixed reproducible tangible wealth. (These new measures are described in an article by Arnold Katz and Shelby Herman, "Improved Estimates of Fixed Reproducible Tangible Wealth, 1929-95," in the May 1997 Survey of Current Business.) BLS uses the BEA data on investment spending (updated by BEA in September 1998) in estimating capital services. In addition to data revisions, BEA also expanded the detail available on office, accounting, and computer equipment. BEA also used new empirical evidence on economic depreciation in revising its wealth estimates. BLS adjusted its service-life estimates of non-residential capital for consistency with this new evidence. A description of the revisions (released May 1998) to the capital measures, entitled "Revisions to Capital Inputs for the BLS Multifactor Productivity Measures," is available upon request and can be found on the BLS web site at http://stats.bls.gov/mprcaptl.htm. A printed version of this paper may be requested by calling (202) 606-5606. Private business and private nonfarm business output series reflect the annual revisions to the National Income and Product Accounts (NIPAs) announced by the Bureau of Economic Analysis in July 1998. Hours data have been revised to reflect the annual benchmarking of employment derived from the BLS Current Establishment Statistics survey. The hours data in this release incorporate the results of the 1997 Hours at Work survey. This survey is designed to measure the ratio of hours at work to hours paid for production and nonsupervisory employees in nonagricultural establishments. BLS converts hours paid from the Current Employment Statistics program to hours at work using data from this survey. The results from the 1997 Hours at Work survey can be found on the web at http://stats.bls.gov/lprlabor.htm or in print. Labor composition measures have been updated through 1997. A brief description, entitled "Changes in the Composition of Labor for the BLS Multifactor Productivity Measures, 1997," is available on the BLS website at http://stats.bls.gov/mprlabor.htm or in print. Manufacturing transactions now reflect data available from the 1992 input-output table. Incorporating this table resulted in revised data on sectoral output, nonenergy materials and purchased business services for the years 1988 through 1996. (See Ann M. Lawson, "Benchmark Input-Output Accounts for the U.S.," Survey of Current Business, November 1997.) Measures of these transactions between years for which input-output tables are available are determined by BLS estimates of annual inputoutput tables. For the year 1991, these transactions are measured by direct interpolation of input-output table coefficients. Input-output tables are not extrapolated beyond 1992. Small revisions to the manufacturing data for all years are based on more detailed benchmark input-output tables developed by the Office of Employment Projections (OEP) of the BLS. OEP has developed these benchmark input-output tables approximately every five years between 1963 and 1992. Beginning with data for 1963, business services in current dollars are now based on these more detailed input-output tables. Service input prices for benchmark years are determined as the ratio of nominal business services to the Tornqvist index of real business services. Annual service input prices for the years 1963-87 are interpolated between the benchmark years using the former service price series. Energy and nonenergy materials prices are revised in a similar manner. Summary of Methods The following note describes the major data sources and the procedures used in deriving BLS multifactor productivity indexes. More detailed information on methods, limitations, and data sources is provided in BLS Bulletin 2178 (September 1983), "Trends in Multifactor Productivity, 1948-81." Methods for measuring manufacturing multifactor productivity are discussed in William Gullickson, "Measurement of productivity growth in U.S. manufacturing," in the July 1995 issue of the Monthly Labor Review. This release presents data for the private business, private nonfarm business, and manufacturing sectors. The private business sector, which accounts for about 76 percent of gross domestic product, includes all of gross domestic product except the output of general government, government enterprises, non-profit institutions, the rental value of owner-occupied real estate, and the output of paid employees of private households. The private nonfarm business sector also excludes farms, but includes agricultural services. Manufacturing sector output is measured as the value of all production delivered to non-manufacturing industries plus deliveries to final demand. These private business, private nonfarm business, and manufacturing multifactor productivity measures describe the relationship between output in real terms and the inputs involved in its production. They do not measure the specific contributions of labor, capital, or any other factor of production. Rather, they reflect the joint effects of many factors, including new technology, economies of scale, managerial skill, and change in the organization of production. Private business and private nonfarm business The multifactor productivity data for private business and private nonfarm business indexes are derived by dividing an output index by an index of labor input and capital services. The output indexes are computed as chained superlative indexes (Fisher Ideal indexes) of components of real output. For the years 1948 to 1997, the Bureau of Economic Analysis (BEA) supplies the output indexes. BLS adjusts these to eliminate the output of government enterprises. Capital input measures the services derived from the stock of physical assets. The assets included are fixed business equipment, structures, inventories, and land. Structures include nonresidential structures and residential capital that is rented out by profit-making firms or persons. Financial assets are excluded, as are owner-occupied residential structures. The aggregate capital measures are obtained by Tornqvist aggregation of the capital stocks for each asset type within each of 53 industries using estimated rental prices for each asset type. Each rental price reflects the nominal rate of return to all assets within the industry and rates of economic depreciation and revaluation for the specific asset; rental prices are adjusted for the effects of taxes. Data on investments in physical assets are obtained from BEA. Current-dollar gross product originating (GPO) data, obtained from BEA, are used in estimating capital rental prices. This news release makes use of revised GPO data released by BEA in November 1998. Labor input in private business and private nonfarm business is obtained by Tornqvist-aggregation of the hours worked by all persons, classified by education, work experience, and gender with weights determined by their shares of labor compensation. Hours paid of employees are obtained from the Current Employment Statistics program. The hours at work of proprietors, unpaid family workers, and farm employees are derived from the Current Population Survey. The hours of employees are converted to an at-work basis by using the Hours at Work survey. The growth rate of labor composition is defined as the difference between the growth rate of weighted labor input and the growth rate of the hours of all persons. Additional information concerning data sources and methods of measuring labor composition can be found in BLS Bulletin 2426 (December 1993), "Labor Composition and U.S. Productivity Growth, 1948-90." The labor and capital components of the input indexes are combined with (Tornqvist) weights that represent each component's share of total costs. Total costs are defined as the value of output (gross product originating) less a portion of indirect business taxes. Most indirect taxes such as excise taxes are excluded from costs; however, property and motor vehicle taxes remain in total costs. The index uses changing weights: The share in each year is averaged with the preceding year's share. Manufacturing sector and manufacturing industries The manufacturing multifactor productivity index is derived by dividing an output index by an index of combined hours, capital services, energy, materials, and purchased business services. The output index for total manufacturing is computed using a chained superlative index (Tornqvist) of 4-digit SIC industry outputs. Industry outputs are developed by BLS from data obtained from the Annual Survey of Manufacturers (ASM) and the Census of Manufactures (CM) from the Bureau of the Census, U.S. Department of Commerce, together with Producer Price Indexes from BLS and price data from BEA. Labor input in manufacturing is measured as the sum of hours at work of all persons. The construction of hours at work follows the methods used in the private business sector described above, except that hours in manufacturing are directly aggregated and do not include the effects of changing labor composition. Energy input is constructed using price and quantity data from the ASM, the CM, and the Manufacturing Energy Consumption Survey of the Energy Information Administration, U.S. Department of Energy, together with BLS Producer Price Indexes. The series on non-energy materials input also relies on ASM and CM data. Indexes of purchased business services are developed by BLS using input-output tables to estimate the proportion of costs attributed to nine types of services. Tornqvist indexes of each of these three input classes are developed at the 2-digit SIC level and then aggregated to total manufacturing. As with the sectoral output measures, input measures are adjusted to exclude transactions between establishments within the same sector. The five input indexes (capital services, hours, energy, materials, and purchased business services) are combined using Tornqvist aggregation, employing weights that represent each component's share of total costs. Total costs are defined as the value of manufacturing sectoral output. The index uses changing weights: The share in each year is averaged with the preceding year's share. Research and development The stock of research and development (R&D) in private nonfarm business is derived by cumulating constant dollar measures of R&D expenditures and allowing for depreciation. Current dollar expenditures for privately financed R&D for the years 1953-97 are obtained from annual issues of Research and Development in Industry published by the National Science Foundation. BLS develops price deflators and estimates of the rate of depreciation. Further description of these data and methods can be found in BLS Bulletin 2331 (September 1989), "The Impact of Research and Development on Productivity Growth." Table 1. Private business sector: Productivity and related measures, 1948-971 Indexes 1992=100 Productivity Inputs Output Output Combined Capital per per Multiunits per hour unit factor of labor hour of all of ProductLabor Capital and of all Year persons capital ivity2 Output3 Input4 Services5 capital6 persons 1948 34.7 114.6 55.9 23.0 57.3 20.1 41.1 30.3 1949 35.9 111.6 56.6 23.0 55.4 20.6 40.6 32.2 1950 39.0 117.7 60.6 25.3 56.5 21.5 41.7 33.2 1955 45.6 121.6 67.1 30.8 60.2 25.3 45.9 37.5 1956 45.8 119.6 66.8 31.4 61.2 26.2 47.0 38.2 1957 47.2 118.1 67.8 31.9 60.5 27.0 47.0 40.0 1958 48.6 113.5 68.1 31.2 57.9 27.5 45.9 42.8 1959 50.0 118.7 70.3 33.4 60.3 28.2 47.5 42.1 1960 50.8 117.3 70.7 34.0 60.6 29.0 48.1 43.3 1961 52.7 116.9 72.1 34.7 60.0 29.7 48.1 45.0 1962 55.2 121.0 74.7 36.9 61.6 30.5 49.4 45.6 1963 57.3 122.3 76.8 38.6 62.1 31.6 50.2 46.9 1964 60.0 125.4 79.8 41.1 63.1 32.7 51.4 47.8 1965 62.1 128.1 82.3 43.9 65.2 34.3 53.4 48.5 1966 64.6 129.5 84.8 46.9 66.9 36.2 55.3 49.9 1967 66.0 124.7 85.0 47.8 66.8 38.3 56.2 53.0 1968 68.4 124.9 87.2 50.2 67.6 40.2 57.6 54.7 1969 68.7 122.6 86.7 51.7 69.5 42.2 59.6 56.0 1970 70.1 117.1 86.5 51.6 68.3 44.1 59.7 59.9 1971 73.1 116.7 89.2 53.6 67.8 45.9 60.1 62.7 1972 75.6 119.4 91.9 57.3 70.1 47.9 62.3 63.3 1973 78.0 121.2 94.5 61.3 72.6 50.6 64.9 64.4 1974 76.7 113.4 91.1 60.3 73.1 53.2 66.2 67.7 1975 79.4 108.4 92.0 59.7 69.9 55.1 64.9 73.3 1976 82.2 112.4 95.4 63.7 71.9 56.7 66.8 73.2 1977 83.6 114.6 97.1 67.4 74.8 58.8 69.4 72.9 1978 84.5 116.5 98.3 71.5 78.6 61.3 72.7 72.5 1979 84.1 114.1 97.5 73.6 81.0 64.4 75.4 73.7 1980 83.8 107.3 95.3 72.6 80.5 67.7 76.2 78.1 1981 85.4 104.9 95.3 74.5 81.6 71.0 78.1 81.4 1982 85.1 97.8 92.4 72.2 80.3 73.9 78.2 87.0 1983 87.7 99.8 94.7 75.8 82.1 76.0 80.1 87.9 1984 90.0 103.8 97.5 82.4 87.0 79.3 84.5 86.7 1985 91.6 103.3 98.3 85.6 89.1 82.9 87.1 88.7 1986 94.0 102.5 99.5 88.4 90.1 86.3 88.9 91.7 1987 94.0 102.3 99.3 91.1 93.0 89.1 91.8 91.9 1988 94.7 103.2 99.5 94.6 96.7 91.7 95.1 91.7 1989 95.5 103.8 100.0 97.8 99.6 94.2 97.8 92.0 1990 96.1 102.1 99.6 98.6 100.2 96.5 99.0 94.1 1991 96.7 98.6 98.1 96.9 99.0 98.3 98.7 98.1 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 100.1 100.7 100.1 102.7 102.9 102.0 102.6 99.4 1994 100.6 102.3 100.6 107.0 107.1 104.6 106.3 98.3 1995 101.0 101.9 100.7 110.0 109.8 108.0 109.3 99.2 1996 103.7 102.3 102.4 114.7 112.0 112.2 112.1 101.4 1997 105.2 102.6 103.1 120.1 116.2 117.1 116.5 102.6 See footnotes following table 6. Source: Bureau of Labor Statistics Table 2. Private nonfarm business sector: Productivity and related measures, 1948-971 Indexes 1992=100 Productivity Inputs Output Output Combined Capital per per Multiunits per hour unit factor of labor hour of all of ProductLabor Capital and of all Year persons capital ivity2 Output3 Input4 Services5 capital6 persons 1948 39.2 122.1 61.0 22.3 49.6 18.2 36.5 32.1 1949 41.0 119.0 62.2 22.3 47.5 18.7 35.8 34.4 1950 43.7 125.9 66.0 24.5 49.2 19.5 37.1 34.7 1955 49.8 131.0 71.9 30.3 54.7 23.1 42.2 38.0 1956 49.6 128.8 71.3 30.9 56.2 24.0 43.4 38.5 1957 50.9 127.2 72.0 31.5 56.1 24.8 43.8 40.0 1958 52.1 122.1 72.2 30.9 53.7 25.3 42.8 42.7 1959 53.6 128.1 74.7 33.2 56.2 25.9 44.5 41.9 1960 54.3 126.1 74.9 33.7 56.4 26.7 45.0 43.0 1961 56.0 125.4 75.9 34.4 56.3 27.4 45.3 44.7 1962 58.6 129.9 78.6 36.7 58.1 28.3 46.7 45.1 1963 60.7 131.1 80.6 38.4 58.8 29.3 47.6 46.3 1964 63.3 134.7 83.7 41.0 60.2 30.5 49.0 47.0 1965 65.2 137.2 86.0 43.9 62.4 32.0 51.0 47.5 1966 67.4 138.7 88.5 47.1 64.5 33.9 53.2 48.6 1967 68.7 133.0 88.4 47.9 64.4 36.0 54.2 51.6 1968 71.1 133.2 90.7 50.4 65.4 37.8 55.5 53.3 1969 71.2 130.3 90.0 51.9 67.5 39.8 57.7 54.6 1970 1971 1972 1973 1974 72.2 75.3 77.8 80.3 79.1 124.1 123.4 126.1 128.1 119.5 89.4 92.0 94.9 97.5 94.1 51.8 53.8 57.5 61.8 60.8 66.6 66.2 68.5 71.1 71.6 41.8 43.6 45.6 48.2 50.9 58.0 58.4 60.7 63.3 64.6 58.2 61.0 61.7 62.7 66.2 1975 81.2 113.1 94.4 59.7 68.4 52.8 1976 84.2 117.5 98.1 64.0 70.5 54.5 1977 85.5 119.7 99.7 67.7 73.5 56.5 1978 86.6 121.7 101.1 72.0 77.2 59.2 1979 85.9 118.7 100.0 74.0 79.8 62.3 1980 85.6 111.4 97.6 73.1 79.3 65.6 1981 86.6 107.8 97.0 74.5 80.5 69.1 1982 86.1 100.0 93.8 72.1 79.2 72.1 1983 89.6 102.7 96.9 76.5 81.1 74.5 1984 91.2 106.2 99.1 82.7 86.1 77.9 1985 92.2 104.9 99.3 85.7 88.4 81.7 1986 94.7 103.9 100.4 88.6 89.6 85.3 1987 94.5 103.3 100.0 91.3 92.7 88.4 1988 95.3 104.3 100.3 95.1 96.5 91.2 1989 95.9 104.6 100.5 98.1 99.5 93.9 1990 96.3 102.6 99.8 98.8 100.2 96.3 1991 96.9 98.8 98.4 97.0 98.8 98.2 1992 100.0 100.0 100.0 100.0 100.0 100.0 1993 100.1 100.8 100.1 103.0 103.1 102.2 1994 100.6 102.1 100.5 107.1 107.2 104.8 1995 101.2 101.8 100.8 110.4 109.9 108.4 1996 103.7 102.1 102.3 115.0 112.3 112.6 1997 104.9 102.1 102.7 120.2 116.6 117.7 63.3 65.2 67.9 71.2 74.0 71.8 71.6 71.4 71.1 72.3 74.9 76.8 76.9 79.0 83.5 76.8 80.3 86.1 87.2 85.9 86.3 88.3 91.3 94.8 97.7 87.9 91.1 91.5 91.4 91.7 99.0 93.8 98.6 98.1 100.0 100.0 102.9 99.3 106.5 98.5 109.5 112.4 117.0 99.4 101.6 102.8 See footnotes following table 6. Source: Bureau of Labor Statistics Table 3. Manufacturing sector: Productivity and related measures, 1949-96 Indexes 1992=100 Productivity Inputs Output Output MultiCombined per hour per factor Purchased units of all unit of Produc- Sectoral Capital business of all Year persons capital tivity7 Output8 Hours9 Services5 Energy Materials services 1949 33.7 127.3 63.7 26.7 79.1 21.0 29.0 31.5 16.4 41.9 1950 34.2 135.3 67.0 29.3 85.5 21.7 30.4 31.1 19.1 43.7 1955 39.1 137.3 71.4 36.9 94.6 26.9 42.3 38.4 24.6 51.7 1956 38.9 132.2 70.5 37.3 96.0 28.2 46.4 38.9 25.8 53.0 1957 39.7 128.3 70.9 37.5 94.4 29.2 47.2 38.5 26.6 52.9 1958 40.3 118.2 69.6 34.9 86.6 29.6 47.4 37.0 25.2 50.2 1959 41.2 126.6 72.7 38.1 92.4 30.1 50.5 37.5 26.9 52.3 1960 42.1 125.6 72.9 38.7 92.0 30.9 51.5 39.1 27.3 53.1 1961 43.1 123.0 73.5 38.7 89.7 31.4 51.8 38.9 27.2 52.6 1962 44.5 128.3 76.4 41.5 93.4 32.4 54.9 39.4 29.1 54.4 1963 46.0 130.2 78.5 43.4 94.3 33.3 57.8 39.2 31.7 55.3 inputs10 1964 47.8 133.7 80.7 46.0 96.3 34.4 63.7 40.3 33.6 57.0 1965 48.8 137.5 82.8 49.8 101.9 36.2 67.3 42.2 35.9 60.1 1966 49.3 137.6 83.1 53.6 108.6 38.9 72.2 44.8 40.6 64.4 1967 51.1 131.0 82.6 55.2 107.9 42.1 77.5 46.7 46.2 66.8 1968 52.9 130.1 84.8 57.9 109.5 44.5 82.2 47.7 46.3 68.3 1969 53.8 127.2 85.5 59.6 110.8 46.9 85.1 47.5 49.1 69.7 1970 54.5 116.3 84.2 56.8 104.2 48.8 85.4 46.0 47.4 67.4 1971 58.2 116.2 86.7 58.5 100.5 50.3 87.3 49.0 46.9 67.5 1972 60.7 122.9 90.0 63.7 105.1 51.9 89.0 52.3 49.9 70.8 1973 61.9 125.8 92.0 68.3 110.5 54.3 91.9 54.1 54.2 74.3 1974 61.7 116.1 87.0 66.5 107.9 57.3 94.4 59.1 58.4 76.5 1975 64.7 104.6 84.6 62.9 97.3 60.1 87.9 62.0 56.7 74.4 1976 67.3 110.0 87.6 68.6 101.9 62.4 91.2 67.1 57.9 78.3 1977 70.1 114.2 89.0 74.3 106.1 65.1 91.3 75.2 62.8 83.6 1978 70.7 115.2 89.7 78.2 110.5 67.9 92.5 78.4 66.5 87.2 1979 70.2 111.3 89.0 79.1 112.7 71.1 96.3 76.2 74.8 88.9 1980 70.4 101.5 87.3 75.7 107.5 74.6 92.5 74.5 71.9 86.7 1981 71.2 97.4 88.2 76.0 106.7 78.0 92.1 73.3 69.4 86.2 1982 75.0 90.8 89.9 73.1 97.5 80.5 83.3 71.3 60.0 81.3 1983 77.2 93.7 91.7 76.3 98.8 81.4 84.2 72.2 67.5 83.2 1984 79.8 100.5 94.4 84.0 105.3 83.6 89.6 79.6 71.9 89.0 1985 82.8 100.3 96.0 86.6 104.5 86.3 86.7 84.4 67.8 90.2 1986 86.5 100.7 97.7 89.1 103.0 88.5 87.4 86.5 71.6 91.2 1987 88.9 101.9 100.7 92.1 103.6 90.4 92.9 83.0 76.3 91.5 1988 90.5 104.9 102.2 96.5 106.6 91.9 96.6 84.9 82.9 94.4 1989 90.7 103.5 100.4 97.1 107.1 93.8 96.8 88.3 88.9 96.7 1990 93.0 101.3 99.8 97.5 104.8 96.3 99.9 91.3 91.8 97.7 1991 95.1 97.3 98.6 95.5 100.4 98.2 100.1 93.1 91.9 96.9 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 102.2 101.8 101.2 103.6 101.4 101.7 103.7 103.0 104.3 102.3 1994 105.3 105.2 104.4 109.1 103.6 103.6 107.3 104.4 107.8 104.5 1995 109.4 106.8 108.4 113.8 104.0 106.6 109.5 101.4 111.0 105.0 1996 113.8 107.0 110.7 118.0 103.7 110.3 107.0 105.4 111.6 106.6 See footnotes following table 6. Source: Bureau of Labor Statistics Table 4. Private business sector: Productivity and related measures, 1948-97 Percent Change Productivity Inputs Output Output Combined Capital per per Multiunits per hour unit factor of labor hour of all of ProductLabor Capital and of all Year persons capital ivity2 Output3 Input4 Services5 capital6 persons 1949 3.5 -2.6 1.2 -0.2 -3.3 2.5 1950 8.8 5.5 7.1 10.1 2.0 4.3 1955 4.6 5.0 4.6 8.5 3.9 3.3 1956 0.3 -1.7 -0.4 1.8 1.7 3.5 1957 3.2 -1.3 1.5 1.6 -1.1 2.9 1958 2.9 -3.8 0.5 -2.0 -4.4 1.9 1959 2.9 4.6 3.3 7.1 4.2 2.4 1960 1.7 -1.2 0.5 1.7 0.5 3.0 1961 3.6 -0.3 2.0 1.9 -1.1 2.2 1962 4.7 3.5 3.7 6.5 2.7 3.0 1963 3.9 1.1 2.8 4.5 0.8 3.4 1964 4.6 2.6 3.9 6.4 1.7 3.7 1965 3.5 2.2 3.1 7.0 3.3 4.7 1966 4.0 1.0 3.0 6.7 2.6 5.6 1967 2.3 -3.7 0.2 1.9 -0.2 5.8 1968 3.5 0.2 2.6 5.0 1.2 4.8 1969 0.5 -1.9 -0.5 3.0 2.9 5.0 1970 2.1 -4.4 -0.2 -0.1 -1.7 4.5 1971 4.3 -0.3 3.1 3.9 -0.8 4.2 1972 3.3 2.3 3.0 6.8 3.4 4.3 1973 3.2 1.5 2.8 7.0 3.5 5.5 1974 -1.6 -6.5 -3.6 -1.6 0.7 5.2 1975 3.5 -4.4 1.0 -1.1 -4.4 3.5 1976 3.5 3.7 3.8 6.8 2.9 3.0 1977 1.7 2.0 1.8 5.7 4.0 3.7 1978 1.1 1.7 1.2 6.1 5.1 4.3 1979 -0.5 -2.1 -0.7 2.9 3.1 5.1 1980 -0.4 -6.0 -2.3 -1.3 -0.6 5.0 1981 1.9 -2.2 0.1 2.6 1.4 4.9 1982 -0.3 -6.8 -3.1 -3.0 -1.7 4.1 1983 3.0 2.0 2.4 5.0 2.3 2.9 1984 2.6 4.1 3.0 8.6 6.0 4.4 1985 1.8 -0.6 0.8 3.9 2.4 4.5 1986 2.6 -0.7 1.2 3.3 1.1 4.1 1987 0.0 -0.2 -0.2 3.0 3.3 3.2 1988 0.7 0.9 0.2 3.9 3.9 2.9 1989 0.9 0.6 0.5 3.4 3.0 2.8 1990 0.7 -1.6 -0.4 0.8 0.6 2.5 1991 0.6 -3.5 -1.5 -1.8 -1.2 1.8 1992 3.4 1.4 1.9 3.2 1.1 1.8 1993 0.1 0.7 0.1 2.7 2.9 2.0 1994 0.5 1.6 0.5 4.2 4.2 2.5 1995 0.4 -0.5 0.1 2.8 2.5 3.3 1996 2.7 0.4 1.7 4.3 2.0 3.8 -1.4 6.3 2.8 3.1 3.7 2.3 0.1 -2.4 3.6 -0.4 2.0 4.5 7.0 -1.6 1.3 -0.1 2.8 1.6 2.4 3.0 4.0 1.2 2.8 2.0 3.8 3.6 1.7 2.4 3.5 1.3 3.0 6.2 3.3 2.4 0.1 0.7 3.7 4.1 2.0 6.8 4.7 1.0 1.7 5.1 -2.0 2.9 3.9 4.8 3.7 8.3 -0.2 -0.3 -0.6 1.6 1.0 2.5 0.1 2.5 5.5 6.0 4.2 6.9 1.0 -1.4 3.1 2.1 3.3 3.6 2.9 2.3 3.4 0.2 -0.2 0.3 1.2 -0.3 1.3 2.6 3.6 2.3 4.2 1.9 -0.6 -1.0 2.7 2.6 0.8 2.3 1997 1.5 0.3 0.7 4.7 3.7 4.4 3.9 1.2 See footnotes following table 6. Source: Bureau of Labor Statistics Table 5. Private nonfarm business sector: Productivity and related measures, 1948-97 Percent Change Productivity Inputs Output Output Combined Capital per per Multiunits per hour unit factor of labor hour of all of ProductLabor Capital and of all Year persons capital ivity2 Output3 Input4 Services5 capital6 persons 1949 4.4 -2.5 2.0 0.0 -4.1 2.5 -2.0 7.1 1950 6.7 5.8 6.1 10.0 3.6 4.0 3.7 0.9 1955 4.7 5.2 4.7 8.9 4.2 3.5 4.0 -0.4 1956 -0.4 -1.6 -0.9 2.1 2.6 3.8 3.0 1.3 1957 2.5 -1.2 1.0 1.8 -0.1 3.1 0.9 3.8 1958 2.4 -4.1 0.3 -2.1 -4.3 2.0 -2.4 6.7 1959 2.9 4.9 3.4 7.6 4.7 2.6 4.0 -1.9 1960 1.2 -1.5 0.3 1.6 0.4 3.2 1.3 2.7 1961 3.2 -0.6 1.4 1.9 -0.3 2.5 0.6 3.8 1962 4.7 3.6 3.6 6.9 3.2 3.2 3.2 1.0 1963 3.5 1.0 2.6 4.5 1.2 3.6 1.9 2.5 1964 4.3 2.7 3.8 6.8 2.3 4.0 2.9 1.6 1965 3.0 1.9 2.8 7.0 3.8 5.0 4.2 1.1 1966 3.5 1.0 2.8 7.1 3.3 6.0 4.2 2.4 1967 1.8 -4.1 -0.1 1.7 -0.1 6.0 1.8 6.1 1968 3.5 0.2 2.7 5.3 1.4 5.1 2.6 3.4 1969 0.1 -2.2 -0.9 3.0 3.3 5.3 3.9 2.3 1970 1.5 -4.8 -0.7 -0.2 -1.3 4.8 0.5 6.6 1971 4.2 -0.5 3.0 3.8 -0.6 4.3 0.8 4.7 1972 3.4 2.2 3.1 7.0 3.4 4.7 3.8 1.2 1973 3.2 1.6 2.8 7.4 3.8 5.7 4.4 1.6 1974 -1.6 -6.7 -3.5 -1.6 0.6 5.5 2.0 5.5 1975 2.7 -5.4 0.3 -1.8 -4.4 3.8 -2.1 8.6 1976 3.6 3.9 4.0 7.2 3.1 3.1 3.1 -0.3 1977 1.5 1.8 1.6 5.7 4.2 3.8 4.1 -0.3 1978 1.3 1.7 1.4 6.4 5.1 4.6 4.9 -0.4 1979 -0.8 -2.4 -1.1 2.8 3.3 5.4 3.9 1.7 1980 -0.4 -6.2 -2.3 -1.2 -0.6 5.3 1.1 6.2 1981 1.2 -3.2 -0.6 1.9 1.5 5.3 2.6 4.5 1982 -0.5 -7.2 -3.3 -3.2 -1.6 4.4 0.2 7.2 1983 4.0 2.7 3.3 6.1 2.4 3.4 2.7 1.3 1984 1.8 3.4 2.2 8.0 6.2 4.5 5.6 -1.5 1985 1.1 -1.2 0.2 3.6 2.7 4.8 1986 2.7 -1.0 1.1 3.5 1.3 4.4 1987 -0.2 -0.6 -0.4 3.0 3.4 3.6 1988 0.8 0.9 0.3 4.1 4.1 3.2 1989 0.6 0.3 0.2 3.2 3.1 2.9 1990 0.4 -1.9 -0.7 0.7 0.8 2.6 1991 0.7 -3.7 -1.4 -1.8 -1.4 1.9 1992 3.2 1.2 1.7 3.1 1.2 1.9 1993 0.1 0.8 0.1 3.0 3.1 2.2 1994 0.5 1.3 0.4 3.9 3.9 2.6 1995 0.6 -0.3 0.3 3.1 2.5 3.4 1996 2.5 0.3 1.4 4.2 2.2 3.9 1997 1.2 0.0 0.4 4.5 3.9 4.5 3.4 2.3 3.5 3.8 3.0 2.3 3.6 0.4 -0.1 0.3 1.3 -0.4 1.4 2.9 3.5 2.4 4.5 2.0 -0.7 -0.8 2.8 2.7 4.1 0.9 2.2 1.2 See footnotes following table 6. Source: Bureau of Labor Statistics Table 6. Manufacturing sector: Productivity and related measures, 1950-96 Percent Change Productivity Inputs Output Output MultiCombined per hour per factor Purchased units of all unit of Produc- Sectoral Capital business of all Year persons capital tivity7 Output8 Hours9 Services5 Energy Materials services 1950 1.5 6.2 5.2 9.7 8.1 3.3 4.7 -1.4 16.5 4.3 1955 4.0 5.8 3.0 9.7 5.5 3.8 13.8 8.3 10.9 6.5 1956 -0.4 -3.7 -1.3 1.0 1.5 4.9 9.5 1.3 4.8 2.4 1957 2.1 -2.9 0.6 0.4 -1.6 3.4 1.9 -0.9 3.0 -0.2 1958 1.5 -7.9 -1.8 -6.8 -8.2 1.2 0.4 -4.1 -5.2 -5.1 1959 2.2 7.2 4.5 9.0 6.7 1.8 6.5 1.5 6.6 4.4 1960 2.2 -0.8 0.2 1.8 -0.4 2.6 1.9 4.2 1.7 1.5 1961 2.4 -2.1 0.8 -0.2 -2.6 1.9 0.6 -0.5 -0.5 -1.1 1962 3.2 4.4 3.8 7.5 4.1 3.0 6.0 1.4 7.1 3.5 1963 3.5 1.4 2.8 4.5 1.0 3.0 5.3 -0.7 8.9 1.7 1964 3.8 2.7 2.9 5.9 2.1 3.2 10.2 3.0 6.0 3.0 1965 2.3 2.9 2.6 8.3 5.9 5.2 5.8 4.7 6.9 5.6 1966 1.0 0.1 0.4 7.6 6.5 7.5 7.3 6.1 13.0 7.2 1967 3.6 -4.8 -0.6 3.0 -0.6 8.3 7.2 4.3 13.9 3.6 1968 3.5 -0.7 2.6 5.0 1.4 5.7 6.1 2.0 0.1 2.3 1969 1.8 -2.2 0.9 3.0 1.2 5.2 3.6 -0.4 6.1 2.1 1970 1.2 -8.6 -1.6 -4.8 -5.9 4.1 0.3 -3.1 -3.4 -3.3 1971 6.9 -0.1 2.9 3.0 -3.6 3.1 2.2 6.5 -1.0 0.1 1972 4.2 5.7 3.9 9.0 4.6 3.1 2.0 6.8 6.4 5.0 1973 2.0 2.4 2.2 7.2 5.1 4.7 3.2 3.3 8.7 4.9 1974 -0.3 -7.7 -5.4 -2.6 -2.3 5.6 2.8 9.3 7.7 3.0 inputs10 1975 4.9 -9.9 -2.7 -5.5 -9.9 4.9 -6.9 1976 4.2 5.1 3.6 9.1 4.8 3.8 3.8 1977 4.0 3.9 1.5 8.3 4.1 4.3 0.1 1978 1.0 0.8 0.8 5.2 4.2 4.3 1.2 1979 -0.7 -3.3 -0.8 1.2 1.9 4.7 4.2 1980 0.3 -8.8 -1.9 -4.3 -4.6 5.0 -4.0 1981 1.1 -4.0 0.9 0.4 -0.7 4.6 -0.4 1982 5.4 -6.7 2.0 -3.8 -8.7 3.2 -9.6 1983 2.8 3.1 1.9 4.3 1.4 1.1 1.1 1984 3.4 7.3 3.0 10.1 6.5 2.7 6.4 1985 3.8 -0.2 1.7 3.0 -0.8 3.3 -3.3 1986 4.4 0.4 1.8 2.9 -1.4 2.5 0.8 1987 2.8 1.2 3.0 3.4 0.6 2.1 6.3 1988 1.8 3.0 1.5 4.7 2.8 1.7 4.0 1989 0.2 -1.4 -1.7 0.7 0.5 2.1 0.2 1990 2.5 -2.2 -0.6 0.4 -2.1 2.6 3.2 1991 2.3 -3.9 -1.2 -2.0 -4.2 2.0 0.2 1992 5.1 2.8 1.4 4.7 -0.4 1.9 -0.1 1993 2.2 1.8 1.2 3.6 1.4 1.7 3.7 1994 3.0 3.4 3.1 5.3 2.2 1.9 3.4 1995 3.9 1.5 3.9 4.3 0.4 2.8 2.1 1996 4.1 0.2 2.1 3.7 -0.4 3.5 -2.3 See footnotes following table 6. Footnotes, Tables 1-6 4.9 8.2 12.1 4.3 -2.8 -2.9 2.2 8.4 5.9 12.6 -2.8 5.3 6.7 4.3 2.0 -2.2 -1.7 -2.8 1.4 10.1 -3.9 -3.5 -13.6 12.5 6.5 -2.5 -0.6 -5.7 2.3 7.0 6.2 2.4 -4.1 2.4 4.0 -5.7 5.6 6.6 8.7 7.2 1.3 1.1 0.3 3.2 2.4 3.3 2.0 7.4 3.0 1.4 3.3 0.1 8.8 4.3 3.4 1.0 -0.8 3.2 2.3 2.1 -2.8 3.9 2.9 0.6 0.4 1.6 Source: Bureau of Labor Statistics Source: Output data are from the Bureau of Economic Analysis (BEA), U.S. Department of Commerce, and modified by the Bureau of Labor Statistics (BLS), U.S. Department of Labor. Compensation and hours data are from BLS. Capital measures are based on data supplied by BEA and the U.S. Department of Agriculture. See also Summary of Methods in this release. (1) The private business sector includes all of gross domestic product except the output of general government, government enterprises, non-profit institutions, the rental value of owner-occupied real estate, and the output of paid employees of private households. The private nonfarm business sector also excludes farms but includes agricultural services. (2) Output per unit of combined labor and capital inputs. (3) Gross domestic product originating in the sector, superlative chained index. (4) Index of the hours at work of all persons including employees, proprietors, and unpaid family workers classified by education, work experience, and gender. This superlative chain index is computed by combining changes in the hours of each education, experience, and gender group weighted by each group's share of labor compensation. (5) A measure of the flow of capital services used in the sector. (6) Labor input combined with capital input, using labor's and capital's shares of costs as weights to form a superlative chained index. (7) Sectoral output per combined units of capital, hours, energy, non-energy materials, and purchased business services. (8) Manufacturing gross output excluding transactions between manufacturing establishments, superlative chained index. (9) Hours at work of all persons. (10) Combined units of capital services, hours, energy, non-energy materials, and purchased business services, superlative chained index. Table 7. Real capital input by asset type, 1948-97 Average annual growth rates (percent) Private business Residential Period All rental InvenAssets Equipment Structures capital tories Land 1948-97 3.7 5.5 3.0 2.3 3.5 2.1 1948-73 3.8 5.5 3.2 2.8 4.3 2.1 1973-79 4.1 6.7 2.9 2.7 3.7 2.2 1979-90 3.7 5.2 3.6 1.9 2.1 2.7 1990-97 2.8 4.6 1.8 0.6 2.6 1.1 1997 4.4 8.0 1.9 0.8 4.1 1.2 Private nonfarm business Residential Period All rental InvenAssets Equipment Structures capital tories Land 1948-97 3.9 5.6 3.1 2.3 3.7 2.7 1948-73 4.0 5.6 3.2 2.8 4.6 2.7 1973-79 4.4 6.8 2.9 2.7 3.9 3.1 1979-90 4.0 5.5 3.7 1.9 2.3 3.5 1990-97 2.9 4.8 1.9 0.6 2.7 1.2 1997 4.5 8.1 1.9 0.8 4.1 1.5 Source: Bureau of Labor Statistics Note: For a brief discussion of methods used in preparing these data, see Summary of Methods in this release. Table 8. Manufacturing industries: Multifactor productivity trends, 1949-96 Average annual growth rates Industry Manufacturing 1949-96 1949-73 1973-79 1979-96 1990-96 1.2 1.5 -0.5 1.0 1.7 Nondurable 0.7 1.4 -0.5 0.3 0.3 manufacturing Food and kindred 0.5 0.7 0.1 0.5 0.1 products Tobacco manufactures N.A. N.A. N.A. N.A. Textile mill products 2.3 2.3 3.5 2.2 1.3 Apparel & related 0.7 0.7 1.9 0.5 -0.5 products Paper and allied 0.7 1.6 -1.1 0.0 0.6 products Printing and -0.1 0.5 -0.6 -0.9 -0.7 publishing Chemicals & allied 1.1 2.5 -2.4 0.7 0.2 products Petroleum refining 0.4 0.8 -0.6 -0.1 0.3 Rubber & misc. 0.7 1.0 -1.8 1.4 1.2 plastic products Leather & leather 0.0 -0.1 -0.1 0.6 -0.3 products Durable manufacturing 1.5 1.5 -0.5 1.6 3.0 Lumber and wood 1.4 1.7 0.6 2.4 -1.1 products Furniture and 0.6 0.6 0.6 0.6 0.6 fixtures Stone, clay, glass & 0.7 1.1 -1.2 1.2 0.5 concrete products Primary metals 0.2 0.4 -2.1 0.2 1.6 industries Fabricated metals 0.4 0.5 -0.9 0.5 1.0 products Industrial & 1.6 commercial machinery 0.7 -0.2 2.9 4.6 N.A. Electrical & 2.9 2.0 electronic machinery Transportation 0.7 1.5 equipment Instruments 1.6 1.9 Miscellaneous 0.9 1.5 manufacturing 1.1 -0.5 1.6 -0.9 2.6 0.1 8.9 0.0 1.4 0.5 1.1 -0.2 N.A. - Multifactor productivity measures are not published because of the small size of the industry and data limitations. This industry is included in the aggregate for total manufacturing. Note: Multifactor productivity measures by industry are not directly comparable to measures for aggregate manufacturing because industry measures exclude transactions only within the specific industry while the aggregate manufacturing measures also exclude transactions between all manufacturing industries.