Exact(4)
Revised productivity figures released on December 6th showed that the slowdown in non-farm productivity-growth is greater than previously thought to 3.3% in the third quarter at an annualised rate.
However, revised productivity growth in previous years dampened the claims of "new economy" zealots average annual growth between 1996 and 2000 was 2.5% rather than 2.8% as previously reported.German unemployment headed upwards in July for the seventh month in succession; a sign of the country's continuing economic slowdown.
America's "new economy" is neither a myth nor a miracle, according to revised productivity figures.
The revised productivity figures suggest that temporary factors -- an exuberant stock market, excessive business investment, a surge in debt-financed consumer spending, for example -- all played important roles.
Similar(55)
Other reports will include April factory orders (Monday), the Institute for Supply Management's nonmanufacturing index (Tuesday), revised first-quarter productivity and labor costs (Wednesday) and April numbers for wholesale trade and consumer credit (Thursday).
Other reports include the Institute for Supply Management's manufacturing index for February and construction spending for January (Monday); the Federal Reserve beige book, revised fourth-quarter productivity, factory orders for January and the I.S.M. service index (Wednesday); and consumer credit for January (Friday).
Reports will include the Institute for Supply Management's manufacturing index for August and construction spending for July (Tuesday); factory orders for July and the Federal Reserve's beige book for August (Wednesday); revised second-quarter productivity and costs and the Institute for Supply Management's service index for August (Thursday); and unemployment for August (Friday).
ECONOMIC REPORTS Data will include the I.S.M. nonmanufacturing index for February and factory orders for January (Monday); ADP employment for February, revised fourth-quarter productivity and consumer credit for January (Wednesday); weekly jobless claims (Thursday); and unemployment for February, trade deficit for January and wholesale trade inventories for November (Friday).
ECONOMIC REPORTS Data will include the Institute for Supply Management manufacturing index for August and construction spending for July (Tuesday); revised second-quarter productivity, Automatic Data Processing employment for August, weekly jobless claims, and the I.S.M. service index for August (Thursday); and unemployment for August (Friday).
ECONOMIC REPORTS Data to be reported this week will include: factory orders for April (Monday); the Institute for Supply Management service index for May (Tuesday); revised first-quarter productivity and the Federal Reserve's beige book (Wednesday); consumer credit for April and weekly unemployment claims (Thursday); and the trade deficit and wholesale trade inventories for April (Friday).
The Bank revised down its productivity forecast because it sees a disproportionate number of new jobs as low-skilled and low-output.
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