2012 (Preliminary) Multifactor Productivity Trends — 2013-06-28

(Note: Multifactor productivity data for the private business and private nonfarm business sectors are incorrect for 2012. Measures for capital services were incorrectly calculated, affecting measures of multifactor productivity, output per unit of capital services, combined inputs, capital services per hour, and the contribution of capital intensity. Only data for 2012 are affected--measures for all other years are correct. A corrected news release will be published as soon as possible.) Private nonfarm business sector multifactor productivity increased at a 1.4 percent annual rate in 2012, the U.S. Bureau of Labor Statistics reported today. (See chart 1, table A.) The multifactor productivity gain in 2012 reflected a 2.9 percent increase in output and a 1.5 percent increase in the combined inputs of capital and labor. Capital services grew by 0.5 percent and labor input � which is the combined effect of hours worked and labor composition � grew by 2.1 percent.