Labor productivity in the US non-farm business sector rose an annualized 2.3 percent during the third quarter of 2018, slightly above a preliminary estimate of 2.2 percent and following a 3 percent increase in the previous three-month period. Output went up 4.1 percent and hours worked rose 1.8 percent. Year-on-year, productivity increased 1.3 percent, reflecting a 3.7 percent gain in output and a 2.3 percent rise in hours worked. Productivity in the United States averaged 60.33 Index Points from 1950 until 2018, reaching an all time high of 105.69 Index Points in the third quarter of 2018 and a record low of 26.03 Index Points in the first quarter of 1950.
Productivity in the United States is expected to be 105.95 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 106.82 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.