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January 17, 2006
Productivity Growth Slowed in 2005

The productivity growth rate dropped from 3 percent in 2004 to 1.8 percent in 2005 in the United States according to a report released by the Conference Board.

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Labor productivity measures the amount of output obtained for each hour of work.

Most countries in the developed world (North America, Europe, and developed Asia ) experienced a slowdown in productivity growth rates in 2005, with growth rates in the 1.5 percent to 2 percent range.

"After three years of exceptional productivity growth, U.S. companies have finally started to add workers," says Bart van Ark, director of the Conference Board international economic research program. "Overall, this is a very balanced performance."

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