Bank of England Quarterly Bulletin - Summer 2001

RESEARCH - Stuart Berry and David England, both of the Bank of England, co-author a study in the quarterly bulletin 'Has there been a structural improvement in US productivity'.

Summary

Annual labour productivity growth in the United States has averaged 2.8% a year since 1996, compared with an average rate of 1.6% during the preceding 25 years. This marked increase in productivity growth has been a key component of what many commentators have suggested is a 'new economy'. Given the US slowdown

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