2023 Total Factor Productivity for Detailed Industries — 2026-06-24

Total factor productivity -- defined as output per unit of combined inputs -- fell in 70 of the 86 four-digit NAICS manufacturing industries in 2023, the U.S. Bureau of Labor Statistics reported today. Among durable manufacturing industries, 42 of 51 had total factor productivity declines led by an 18.7-percent fall in the spring and wire product industry. Total factor productivity declined in 28 of 35 nondurable manufacturing industries led by an 11.8-percent drop in the beverages industry. Four of the 11 largest manufacturing industries (those with employment over 350,000 workers) experienced increasing total factor productivity in 2023: aerospace products and parts (+3.3 percent), electronic instruments (+1.5 percent), animal slaughtering and processing (+1.1 percent), and pharmaceutical and medicines (+0.6 percent). Output declined in 7 of these 11 industries led by a 9.3- percent decrease in printing and related support activities.