Third-Quarter Manufacturing Productivity Growth Revised Upward

Dec. 5, 2006
Seasonally adjusted annual rate was 6.7%.

Revised figures from the U.S. Department of Labor show productivity in the manufacturing sector of the economy grew at a seasonally adjusted annual rate of 6.7% in this year's July-through-September quarter, nearly a percentage point higher than the 5.9% initially reported.

Factory output was higher than originally figured, actually growing at a 5.1% rate rather than the 4.2% rate earlier reported. There was no revision to the previously reported 1.6% decrease in work hours during the third quarter.

In the third quarter of this year, productivity grew at a 9% annual rate among durable goods manufacturers, and productivity advanced at a 3.1% rate among producers of non-durable goods.

The manufacturing sector of the U.S. economy dramatically outpaced productivity growth in the overall non-farm business sector, of which it is a part. Revised numbers show non-farm business productivity grew at an annual rate of just two-tenths of a percent in the third quarter. However, that's higher than the Labor Department's initial report, which should no productivity growth in the non-farm business sector from July through September.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!