2014 Multifactor Productivity Trends — 2016-03-24

(Note: The Bureau of Labor Statistics identified an error in the estimates of the contribution of intellectual property products (IPP) excluding research and development (R&D) to labor productivity and the contribution of capital services excluding information processing equipment (IPE) & IPP to labor productivity. This error affects Table B of Multifactor Productivity Trends � 2014. No other measures besides the measures listed above were affected by this error. The data in this release will not be corrected. For more information, please visit https://www.bls.gov/bls/errata/productivity-correction-11082017.htm.) Private nonfarm business sector multifactor productivity increased at a 0.7 percent annual rate in 2014, the U.S. Bureau of Labor Statistics reported today. (See chart 1 and table A.) This gain in 2014 reflected a 3.1-percent increase in output and a 2.4-percent increase in the combined inputs of capital and labor.