August 08, 2003 (The Editor’s Desk is updated each business day.) Productivity advances in second quarterNonfarm business sector productivity—as measured by output per hour—was up at a seasonally adjusted annual rate of 5.7 percent in the second quarter of 2003. Output rose 3.4 percent and hours of all persons declined 2.2 percent in the second quarter. Output per hour grew at a 2.1 percent annual rate in the first quarter of 2003, as output increased 1.4 percent and hours decreased 0.7 percent. |
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