Productivity And Costs — 2005-12-06

The Bureau of Labor Statistics of the U.S. Department of Labor today reported revised productivity data--as measured by output per hour of all persons--for the third quarter of 2005. The seasonally adjusted annual rates of productivity growth in the third quarter were: 5.4 percent in the business sector and 4.7 percent in the nonfarm business sector. In both sectors, changes in productivity are higher than the preliminary estimates published November 3, reflecting upward revisions to output. Movements in hours were unchanged in both sectors. 3.4 percent in manufacturing, 6.5 percent in durable goods manufacturing, and 0.2 percent in nondurable goods manufacturing. Productivity grew more slowly in the manufacturing sector than was reported on Nov. 3. The third-quarter change in manufacturing output was revised down and the decrease in hours was less than reported last month. Output and hours in manufacturing, which includes about 13 percent of U.S.