Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Saturday, December 23, 2006

Sluggish Productivity Growth since Late 2005

Dean Baker is pessimistic about productivity:

Beat the Press: More Bad News on Productivity? Yet another quarter of weak productivity should raise some eyebrows. If we take 1.0 percent as the number for the 4th quarter (which is likely high)... this gives an average annual growth rate of just 1.3 percent over these 5 quarters. That compares to more than 3 percent from 2001-2005. But revisions will make the data look even worse.... [Perhaps] an average annual rate of productivity growth over these 5 quarters of just 1.0 percent, definitely cause for concern.

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