Labor productivity in the US non-farm business sector rose by an annualized 1.9 percent during the fourth quarter of 2018, beating market expectations of 1.6 percent and following a 1.8 percent advance in the previous three-month period. Output grew by 3.1 percent and hours worked by 1.2 percent. Year-on-year, productivity increased by 1.8 percent, reflecting a 3.7 percent gain in output and a 1.9 percent rise in hours worked. Considering 2018 full year, labor productivity rose by 1.3 percent, the most since 2010. Productivity in the United States averaged 60.50 Index Points from 1950 until 2018, reaching an all time high of 106.10 Index Points in the fourth 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 106.26 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 107.09 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.