Labor productivity in the US non-farm business sector increased by an annualized 2.3 percent during the second quarter of 2019, matching a preliminary estimate and following a 3.5 percent gain in the previous three-month period. Figures came above market expectations of 2.2 percent. Output rose 1.9 percent and hours worked dropped 0.4 percent, the biggest decline since the third quarter of 2009. Year-on-year, productivity went up 1.8 percent, reflecting a 2.6 percent rise in output and a 0.9 percent increase in hours worked. Productivity in the United States averaged 60.79 Index Points from 1950 until 2019, reaching an all time high of 107.54 Index Points in the second quarter of 2019 and a record low of 25.99 Index Points in the first quarter of 1950.
Productivity in the United States is expected to be 106.55 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Productivity in the United States to stand at 107.50 in 12 months time. In the long-term, the United States Nonfarm Labour Productivity is projected to trend around 109.21 Index Points in 2020, according to our econometric models.