Productivity – 1Q09, Quarter over Quarter
—+1.8% in the business sector, on an annual basis, which was “greater than preliminary estimates reported on May 7, due solely to revisions to output growth.”
—Manufacturing showed declines of 2.7% and 10.4% in manufacturing and durable goods manufacturing, respectively. Productivity in nondurable goods manufacturing grew by 1.9%.
—Output Decreased 7.2%, but manufacturing output decreased 21.5% and hours decreased 19.5%. “These were the largest-ever declines in the output and hours series” since 2Q87.
—Productivity at non-financial companies decreased 2.1% in the first quarter