All Posts Tagged: productivity
President Trump talks about returning the United States to 3.0% GDP growth or better, and it’s baked into his FY 2018 budget plan to reach that milestone by 2021.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on June 9.Key observations:
- GDP growth in the current expansion has averaged a modest 1.8% per year, the lowest expansion growth rate in the postwar period.
- Nonfarm productivity growth defined as real output per hour worked was 0.0% at an annual rate in the first quarter.
- The labor force growth rate over the past 12 months is a modest 0.8%.
- The Federal Reserve estimates U.S. potential GDP growth today at around 1.6% per year, and that number is likely to slip further without a surge in productivity in the years ahead.
We finally got some better news as U.S. productivity increased at its fastest rate in two years in the third quarter.Read More ›
We all get too many emails, and it can be easy to just go with the flow. But there are very good reasons to do a virtual declutter now and then.Read More ›
Economists have been trying to spot a pro-growth virtuous cycle in the current ecomomic expansion, and now we believe it’s near.Read More ›
Want to see something striking about the health and direction of the economy? Look into recent industrial production and manufacturing data.Read More ›