Material Is Embargoed — 2002-03-07

The Bureau of Labor Statistics of the U.S. Department of Labor today reported revised fourth-quarter seasonally-adjusted annual rates of productivity change--as measured by output per hour of all persons- -and revised annual changes for the full year 2001. Percent changes in business and nonfarm business productivity were: In both sectors, fourth-quarter productivity was higher than originally reported due to upward revisions to the output measures. Fourth-quarter productivity and related measures are summarized in table A and appear in detail in tables 1 through 5; the preliminary and revised fourth-quarter and annual data appear in table C. Manufacturing productivity rose 4.1 percent (seasonally adjusted annual rate) in the fourth quarter. This increase was higher than originally reported, reflecting upward revisions to output per hour in both the durable and nondurable goods manufacturing subsectors. (Output and hours in manufacturing, which includes about 16 percent of U.S.