March 05, 2004 (The Editor’s Desk is updated each business day.)

Productivity growth in 2003 revised upward

Productivity in the nonfarm business sector—as measured by output per hour—increased at a revised rate of 4.4 percent in the nonfarm business sector during 2003.

[Chart data—TXT]

A preliminary estimate of 4.2 percent had been reported on February 5, based on information available at that time. The upward revision in productivity growth was due to a larger decrease in hours than originally reported.

Output in the nonfarm business sector grew 3.7 percent in 2003; this increase is the same as the preliminary estimate. Hours of all persons were down 0.7 percent, following an initially reported decline of 0.5 percent.

During 2002, productivity had increased 5.0 percent in nonfarm business, as output rose 2.3 percent and hours of all persons fell 2.6 percent.

These data are from the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, Fourth Quarter 2003, Revised" (PDF) (TXT), news release USDL 04-337.