Bureau of Labor Statistics

Historical, technical

information: (202) 523-9261

Media contact: (202) 523-1913

United States At~

Department ~

of Labor

Washington, D.C. 20212

USDL 91-412

For Release: 10:00 AM EDT

Thursday, August 29, 1991

MULTIFACTOR PRODUCTIVITY MEASURES, 1990

Priva~e Business, Private Nonfarm Business, and Manufacturing

The Bureau of Labor Statistics of the U.S. Department of Labor today

reported multifactor productivity measures--output per unit of combined labor

and capital--for 1990. Multifactor productivity changed from 1989 to 1990 at

the following percentage rates:

Private business

Private nonfarm business

Manufacturing

1989-90

-0.8

-1.0

1.5

Multifactor productivity in private business and private nonfarm

business posted its second consecutive annual decline in 1990, and the

declines were larger than in 1989. In manufacturing, multifactor productivity

increased in 1990 for the eighth consecutive year. While the gain was larger

than in 1989, productivity growth was slower than the gains made during the

1983-88 period. The 1990 annual changes are summarized in table A; further

detail and historical measures are shown in tables 1 through 12. (See notes on

revisions on page 6.)

The change in multifactor productivity reflects the difference between

the change in output (production of goods and services) and the change in

labor and capital inputs engaged in the production of the output. Multifactor

productivity does not measure the specific contributions of labor, capital, or

any other factor of production. Instead, it reflects the joint effects of

many factors, including new technology, economies of scale, change in the

composition of labor input, managerial skill, and change in the organization

of production.
2

Table A. Productivity indexes and related measures

Percent change from 1989 to 1990

Item

Productivity:

Private

business 1/

Private

nonfarm

business 1/

Manufacturing

Output per hour of all persons .

Output per unit of capital services ..

Multifactor productivity 2/ .

Output .

Inputs:

-0.4 -0.5 2.5

-2.0 -2.1 -1.1

-0.8 -1.0 1.5

0.2 0.2 0.4

Hours of all persons .

Capital services .

Combined units of labor and

capital input 3/ '" .

Capital services per hour of

all persons (capital-labor ratio) ....

0.6

2.2

1.1

1.6

0.7

2.3

1.2

1.6

-2.0

1.5

-1.0

3.7

1/ Excludes government enterprises.

2/ Output per unit of combined labor and capital input.

3/ Hours of all persons combined with capital service input index, weighted

by labor's and capital's shares of nominal output.

Measures of both quarterly and annual labor productivity, Or output per

hour, are published by the Bureau of Labor Statistics each quarter. The

percent change in labor productivity indicates the portion of the change in

output that cannot be accounted for by the change in labor inputs. In

contrast, the percent change in multifactor productivity indicates the portion

of the change in output that cannot be accounted for by the change in combined

inputs of labor and capital.
3

Private business sector

Multifactor productivity in private business decreased 0.8 percent in

1990, following a 0.4 percent decline in 1989 (table 4). Consecutive declines

in productivity last occurred in 1979 and 1980. The productivity decline was

the result of a 0.2 percent increase in output and a 1.1 percent increase in

combined inputs of capital and labor. Both output and combined inputs posted

their smallest gains since 1982. The 0.6 percent increase in hours at work is

also the smallest gain since 1982, while capital services increased 2.2

percent or about the same rate as in 1988 and 1989. The capital services from

land increased at a faster pace than in 1989, but equipment, structures,

rental residential capital, and inventories grew more slowly than in 1989

(table 10). The sharp decline in the growth rate of hours led to the first

increase in the ratio of capital services to hours at work since 1986.

Labor productivity declined 0.4 percent in 1990, the same rate as in

1989. Capital productivity (the ratio of output to capital services) declined

2.0 percent in 1990, following a decline of 0.4 percent in 1989.

Private nonfarm business

Multifactor productivity in private nonfarm business declined 1.0

percent (table 5), following a 0.6 percent decline in 1989. Output gains were

minimal, 0.2 percent, while combined inputs of hours and capital services

increased 1.2 percent. Separately, the growth rate of hours at work fell to

0.7 percent, about a quarter of its 1989 rate, and capital services grew 2.3

percent, only slightly slower than in 1989. Each form of capital grew more

slowly than 1989, but the capital services from equipment continue to post the

fastest rate of increase (table 11). The capital-labor ratio increased 1.6

percent.

Labor productivity declined 0.5 percent in this sector in 1990 as growth

in output (0.2 percent) failed to keep pace with the increase in hours at work

(0.7 percent) for the second consecutive year. Capital productivity declined

2.1 percent in 1990, the largest decline since 1982.

Manufacturing

Only in manufacturing did multifactor productivity increase in 1990.

While the gain of 1.5 percent was larger than in 1989, this gain was still

below the rapid advances of the 1983-88 period (table 6). In recent years,

manufacturing has consistently recorded stronger multifactor productivity

gains than both the private business and private nonfarm business sectors.

Since 1982, multifactor productivity in manufacturing has grown nearly 4

percent per year; in private business and private nonfarm business, annual

gains have averaged less than 1.5 percent.
4

As in the larger sectors, output in manufacturing grew at a slow rate,

0.4 percent. Combined inputs of hours and capital services fell 1.0 percent,

the first decline since 1986. The decline in combined inputs stems entirely

from a sharp drop in hours. Capital services continued to post gains similar

to those in recent years. The growth rates of equipment, structures, and land

increased in 1990, and only inventories grew more slowly in 1990 compared with

1989 (table 12). A 2.0 percent decline in hours combined with a 1.5 percent

gain in capital services led to a 3.7 percent increase in the capital-labor

ratio--the largest gain since 1982.

Labor productivity increased for the 10th consecutive year. The 2.5

percent gain was larger than the 1989 rate, but the gain was generally smaller

than gains in the 1980s. Capital productivity fell 1.1 percent in 1990.

Long-te~ trends

Labor productivity growth (output per hour) differs from multifactor

productivity (output per unit of combined capital and labor) in its treatment

of capital. Since labor productivity measures do not explicitly account for

the effects of capital on output growth, changes in capital intensity (the

capital-labor ratio) influence labor productivity growth. However,

multifactor productivity (MFP) treats capital as an explicit factor of

production and changes in capital intensity do not affect measures of MFP.

Long-term labor productivity growth can be viewed as the sum of two

components: Multifactor productivity growth and the contribution of increased

capital intensity.

From 1948 to 1990, labor productivity grew at an annual rate of 2.2

percent in private business, 1.8 percent in private nonfarm business, and 2.8

percent in manufacturing (table B). Of the 2.8 percent trend growth rate in

labor productivity in manufacturing, 2.0 percent may be attributed to

increases in multifactor productivity and 0.8 percent to the contribution of

capital intensity. The latter equals the change in the capital-labor ratio

multiplied by capital's share of total output; historically, capital's share

has been less than one-third of total costs.

The widely discussed post-1973 productivity slowdown is apparent from

the data in table B. From 1948 to 1973, multifactor productivity grew at an

annual rate of 2.0 percent in private business and 1.6 percent in private

nonfarm business. These rates, combined with the growth rates in the

contribution of capital intensity, resulted in labor productivity growth rates

of 3.0 percent and 2.5 percent, respectively, in private business and private

nonfarm business.

During the period 1973 to 1979, gains in multifactor productivity slowed

to only 0.2 percent per year in private business. At the same time, the

average annual contribution of capital intensity decreased to 0.6 percent.

Labor productivity, therefore, increased only 0.8 percent per year from 1973

to 1979. A similar slowdown occurred in private nonfarm business during the

1973-79 period.
5

Table B. Compound annual rates of growth in output per hour of all

persons, the contribution of capital intensity, and multifactor

productivity, by major sector, 1948 to 1990

1948- 1948- 1973- 1979-

Measure 1990 1973 1979 1990

Private business .!.1

Output per hour of all persons 2.2 3.0 0.8 1.2

Contribution of capital intensity ?;./ 0.9 1.1 0.6 0.5

Multifactor productivity II 1.4 2.0 0.2 0.6

Private nonfarm business .Y

Output per hour of all persons 1.8 2.5 0.6 1.0

Contribution of capital intensity ?;./ 0.8 0.9 0.6 0.5

Multifactor productivity II 1.1 1.6 0.0 0.4 I

Manufacturing

Output per hour of all persons 2.8 2.9 1.4 3.1

Contribution of capital intensity ?;.I 0.8 0.8 1.0 0.7

Multifactor productivity 31 2.0 2.1 0.5 2.4

11 Excludes government enterprises.

2/'Change in capital services per hour times capital's share of current

dollar output.

31 Output per unit of combined labor and capital input.

The sum of multifactor productivity and the contribution of capital intensity

may not equal labor productivity due to rounding.

Source: Tables 4-6.
6

Multifactor productivity in manufacturing grew at an annual rate of 2.1

percent from 1948 to 1973. This growth rate fell to 0.5 percent during the

years 1973 to 1979. However, the contribution of capital intensity did not

fall as it did in the two larger business sectors and instead increased

slightly to 1.0 percent per year. This small increase in the contribution of

capital intensity dampened the decline in labor productivity growth in

manufacturing compared to the two larger sectors.

In the latest period, 1979 to 1990, multifactor productivity in

manufacturing increased 2.4 percent per year, and labor productivity rose 3.1

percent per year. These results exceeded the growth rates of the 1948-73

period. On the other hand, multifactor productivity grew only 0.6 percent per

year in private business and 0.4 percent per year in private nonfarm business

during this period. These growth rates represent an increase from the 1973-79

rates but are still well below the pre-1973 rates.

Note: The Bureau of Economic Analysis (BEA) of the Department of Commerce has

recently published measures of current and constant dollar gross product

originating by industry for 1989 and revised measures for 1987 and 1988. The

measures of output, inputs, and productivity for manufacturing from 1987 to

1989 have been revised based on these new data. At this time, 1990 gross

product originating data for manufacturing output have not been issued.

Preliminary measures of real manufacturing output are based on the Federal

Reserve Board's monthly indexes of industrial production for durable and

nondurable manufacturing for 1990. Current dollar manufacturing output is

estimated for 1990 by assuming that employee compensation is a constant share

of output.

Measures of hours of all persons at the major sector level have been

revised to reflect the June 1990 benchmark of the BLS Current Employment

Statistics survey of establishments to the March 1990 unemployment insurance

data.

At this time, the 1990 Hours at Work survey has not been completed by

BLS. This survey is used to convert hours paid to hours at work. The 1989

ratios of hours worked to hours paid for each industry are applied to the 1990

hours paid data to produce preliminary estimates of the 1990 hours at work of

all persons.

Measures for 1990 proprietors' income also have not been issued by the

U.S. Department of Commerce. Preliminary measures are based on the hours of

proprietors and hourly earnings of employees in 1990.

The Bureau of Economic Analysis has revised measures of the real value

of farm land. Most revisions affect data after 1979, but all data for Alaska

and Hawaii were revised. As a result, measures of capital services have been

revised.
7

Summary of Methods

The following note describes the major data sources and the procedures

used in deriving BLS multifactor productivity indexes. More detailed

information on the methods, limitations, and data sources is provided in BLS

Bulletin 2178, "Trends in Multifactor Productivity, 1948-81."

The multifactor productivity indexes are derived by dividing an output

index by an input index which is a weighted average of the hours at work of

all persons and capital services. The output indexes are computed from

measures of constant dollar gross domestic product, derived from the national

income and product accounts (NIPA) developed by the Bureau of Economic

Analysis (BEA) of the U.S. Department of Commerce.

The capital input series measures the services derived from the stock of

physical assets. The assets included are fixed business equipment,

structures, inventories, and land. Structures include nonresidential

structures and residential capital which is rented out by profit-making firms

or persons. Financial assets are excluded as are owner-occupied residential

structures. The aggregate capital measures are obtained by weighting the

capital stocks for each asset type within each industry using the respective

rental prices. Rental prices are the sum of the real rate of return to all

assets within the industry and the rate of depreciation of the specific asset,

adjusted for the effect of taxes. Data on physical assets and the gross

product originating by industry used in measuring the rental prices are

obtained from the BEA.

The labor and capital components of the input indexes are combined with

weights which represent each component's share of total costs, Total costs

are defined as the value of output (gross product originating) less a portion

of indirect business taxes. Most indirect taxes such as excise taxes are

excluded from costs. However, property and motor vehicle taxes remain in

total costs. The index uses changing weights where the share in each year is

averaged with the preceding year's share.

Data are presented for the private business, private nonfarm business,

and manufacturing sectors. The private business sector, which accounts for

about 80 percent of the gross national product, includes all activities in the

economy with the exception of general government, government enterprises, the

rest-of-the-world sector, owner-occupied housing, nonprofit institutions,

private household employees, and the statistical discrepancy in computing the

NIPA. The private nonfarm business sector also excludes farms but includes

agricultural services.

These multifactor productivity measures describe the relationship

between output in real terms and the labor time and capital services involved

in its production. They do not measure the specific contributions of labor,

capital, or any other factor of production. Rather, they reflect the joint

effects of many factors, including new technology, economies of scale, change

in the composition of labor input (as measured by education and experience),

managerial skill, and change in the organization of production.
Table 1. Private business sector: Productivity and related measures, 1948-90 [lJ

Indexes 1982-100

8

Productivity Inputs

Year Output per Output per Multifactor Output Hours of Capital Combined units Capi tal per

hour of all unit of productivity all persons Services of labor and hour of

persons capi tal [2] [3J [4J [5J capital inputs[6J all persons

38.3 78.1 28.9 57.3 37.0

41.1 80.2 30.7 59.6 38.2

42.4 80.1 31. 8 60.2 39.7

44.4 80.8 32.8 61.2 40.5

43.6 78.1 33.5 60.2 42.9

46.7 81.0 34.8 62.4 42.9

48.0 82.2 36.3 63.9 44.1

48.6 80.9 37.6 63.9 46.4

47.6 77.1 38.3 62.2 49.7

51.2 80.0 39.3 64.3 49.2

52.1 80.0 40.5 65.0 50.6

53.1 78.7 41.5 64.7 52.7

55.9 79.9 42.8 66.0 53.6

58.5 80.3 44.3 67.0 55.2

62.1 81.5 46.1 68.5 56.5

66.0 84.1 48.3 71.1 57.5

69.5 86.0 51. 2 73.5 59.6

71.3 85.7 54.1 74.7 63.2

74.5 86.8 56.7 76.5 65.2

76.6 88.9 59.4 78.9 66.8

75.8 87.2 62.1 78.8 71.2

78.0 86.R 64.4 79.4 74.2

83.0 89.6 66.9 82.1 74.7

88.0 92.8 70.4 85.5 75.8

86.4 92 .8 73.9 86.7 79.6

84.5 88.9 76.4 85.0 85.9

89.5 91. 5 78.5 87.4 85.8

94.8 95.1 81.1 90.7 85.3

100.3 99.7 84.3 94.9 84.6

102.3 102.9 88.0 98.2 85.5

101. 0 101. 9 92.5 99.0 90.7

103.2 102.6 96.6 100.7 94.1

100.0 100.0 100.0 100.0 100.0

104.3 101.8 102.4 102.0 100.6

113.2 107.7 106.0 107.1 98.5

118.0 109.9 110.1 110.0 100.1

121. 6 110.7 114.2 111. 8 103.1

126.7 114.1 117.4 115.1 102.9

133.5 117.5 120.4 118.4 102.4

136.3 120.4 123.3 121.3 102.5

136.6 121.0 126.0 122.6 104.1

Source: Bureau of Labor Statistics

1948 44.8 132.9 63.1

1949 45.2 126.4 62.3

1950 49.1 132.6 66.9

1951 51.2 134.1 69.0

1952 52.9 133.5 70.4

1953 55.0 135.6 72.6

1954 55.8 130.1 72.5

1955 57.6 134.1 74.8

1956 58.4 132.4 75.2

1957 60.0 129.3 76.0

1958 61.8 124.2 76.5

1959 64.0 130.2 79.6

1960 65.1 128.5 80.2

1961 67.5 128.1 82.1

1962 70.0 130.6 84.7

1963 72.9 132.0 87.4

1964 76.2 134.9 90.7

1965 78.5 136.6 92.9

1966 80.8 135.6 94.5

1967 83.3 131. 8 95.5

1968 85.9 131.6 97.5

1969 86.1 128.9 97.1

1970 87. O. 122.2 96.2

1971 89.8 121. 0 98.2

1972 92.6 123.9 101. 0

1973 94.8 125.1 103.0

1974 93.1 116.9 99.6

1975 95.0 110.6 99.4

1976 97.8 114.0 102.4

1977 99.7 116.9 104.5

1978 100.6 118.9 105.7

1979 99.4 116.2 104.1

1980 99.2 109.3 102.1

1981 100.6 106.9 102.5

1982 100.0 100.0 100.0

1983 102.4 101.8 102.3

1984 105.1 106.8 105.6

1985 107.3 107.2 107.3

1986 109.8 106.5 108.8

1987 111.1 108.0 110.1

1988 113.6 110.9 112.8

1989 113.2 110.5 112.4

1990 112.8 108.4 111. 4

See footnotes following table 6.

35.8

34.9

80.0

77.3

27.0

27.6

56.8

56.0

33.7

35.7
Table 2. Private nonfarm business sector: Productivity and related measures, 1948-90 [1)

Indexes 1982=100

9

Productivity Inputs

Year Output per Output per Mu1 tlfactor Output Hours of Capital Combined units Capi tal per

hour of all unit of productivity all persons Services Qf labor and hour of

persons capi tal [2J [3J [4) [5J capital inputs(6} all persons

26.9 51.0 40.1

28.6 53.6 40.7

29.7 54.5 41. 9

30.6 56.0 42.3

31. 4 55.0 44.8

32.6 57.3 44.8

34.1 59.1 45.7

35.4 59.5 47.7

36.2 58.1 51.0

37.2 60.3 50.2

38.4 61.2 51. 6

39.4 61.1 53.6

40.8 62.7 54.3

42.3 63.9 55.8

44.0 65.7 56.7

46.3 68.5 57.6

49.2 71.4 59.2

52.1 72.7 62.7

54.7 74.6 64.7

57.5 77.3 66.1

60.2 77.4 70.4

62.6 78.1 73.4

65.2 80.9 73.9

68.7 84.5 75.0

72.4 85.7 79.0

75.0 84.0 85.5

77.2 86.7 85.2

80.0 90.1 84.6

83.4 94.5 84.0

87.6 98.2 85.3

92.0 911.9 90.4

96.3 100.7 93.9

100.0 100.0 100.0

102.6 102.1 100.6

106.4 107.6 98.4

111.0 110.9 100.1

115.2 112.8 103.0

118.7 116.4 102.7

122.0 120.0 102.4

125.4 123.1 102.6

128.3 124.6 104.2

Source: Bureau of Labor Statistics

1948 51. 9 140.0 70.3 35.2 67.9

1949 52.8 133.8 70.0 34.4 65.1

1950 56.3 140.5 74.2 37.8 67.1

1951 58.1 142.6 76.1 40.8 70.2

1952 59.5 141. 8 77 .2 42.1 70.8

1953 60.8 143.9 78.7 44.1 72.5

1954 61. 7 137.8 78.5 43.2 70.0

1955 63.6 142.0 80.9 46.3 72.9

1956 64.0 140.0 80.9 47.8 74.7

1957 65.2 136.7 81.3 48.4 74.2

1958 66.8 131.0 81. 6 47.4 71.0

1959 69.0 137.4 84.7 51.1 74.0

1960 69.8 135.1 84.8 51.9 74.4

1961 72.0 134.4 86.6 52.9 73.5

1962 74.4 137.0 89.1 55.9 75.1

1963 77.2 138.4 91.6 58.5 75.8

1964 80.2 141.4 94.7 62.2 77 .6

1965 82.3 142.9 96.7 66.2 80.5

1966 84.0 142.0 97.9 69.9 83.2

1967 86.2 137.4 98.6 71. 7 83.1

1968 88.8 137.2 100.6 75.1 84.5

1969 88.6 134.0 99.7 77.1 87.0

1970 89.1 126.6 98.5 76.2 85.~

1971 91.8 125.1 100.2 78.3 85.3

1972 94.6 127.9 103.0 83.4 88.2

1973 96.6 128.9 104.9 88.6 91.7

1974 94.8 120.0 101.4 86.9 91;7

1975 96.6 113.0 101.0 84.8 87.8

1976 99.3 116.6 103.9 90.0 90.7

1977 100.9 119.3 105.8 95.4 94.5

1978 101.8 121. 2 107.0 101.1 99.3

1979 100.2 117.5 104.9· 102.9 102.7

1980 99.9 110.5 102.8 101.7 101. 8

1981 100.8 107.3 102.7 103.4 102.6

1982 100.0 100.0 100.0 100.0 100.0

1983 103.0 102.4 102.8 105.0 101. 9

1984 105.2 107.0 105.7 113.8 108.2

1985 106.7 106.5 106.6 118.3 110.9

1986 108.9 105.7 ·107.9 121. 8 111.8

1987 110.0 107.0 109.1 127.0 115.5

1988 112.7 110.0 111.9 134.3 119.1

1989 112.1 109.3 111.3 137.0 122.2

1990 111.5 107.0 110.1 137.2 123.1

See footnotes following table 6.

25.2

25.7

50.1

49.2

37.1

39.5
10

Table 3. Manufacturing sector: Productivity and related measures, 1948-90 [lJ

Indexes 1982-100

Productivity Inputs

Year Output per Output per Multifactor Output Hours of Capital Combined units Capital per

hour of all unit of productivity all persons Services of labor and hour of

persons capi ta 1 [2J [3] [4 ] [5J capital inputs [6] all persons

See footnotes following table 6,

151. 4 64.5

153.1 66.6

149.9 67.1

154.5 68.7

142.5 67.9

151.7 71.5

144.9 70.3

140.4 70.8

127.5 68.7

140.0 72.8

136.6 72.6

134.9 73.9

141.7 77.1

148.3 82.0

153.7 85.6

157.9 88.0

156.8 88.6

144.2 86.6

143.9 88.8

140.9 89.3

128.0 87.5

127.1 90.8

135.1 95.1

143.4 100.5

130.1 96.2

115.5 95.2

122.9 100.1

127.5 103.4

128.1 103.8

125.6 103.6

113.4 100.5

109.6 100.6

100.0 100.0

105.7 105.2

115.7 111.4

117.2 115.4

118.9 119.7

124.9 126.0

132.9 132.4

132.8 133.2

131.3 135.1

41. 9 87.5 27.6 64.9 31. 6

46.9 94.2 30.6 70.4 32.5

48.5 95.4 32.3 72.2 33.9

52.0 100.3 33.7 75.7 33.6

48.2 91.7 33.8 70.9 36.9

53.3 96.7 35.1 74.5 36.3

53.7 98.1 37.1 76.4 37.8

54.0 96.5 38.5 76.3 39.9

49.3 88.6 38.6 71.7 43.6

54.9 94.5 39.2 75.4 41. 5

55.0 94.2 40.3 75.8 42.8

55,1 91,7 40.9 74.6 44.6

59.8 95.5 42.2 77.5 44.2

64.5 96.4 43.5 78.7 45.1

69.1 98.5 45.0 80.7 45.7

75.2 104.3 47.6 85.4 45.6

80.9 110.9 51. 6 91.4 46.5

80.7 110,4 56.0 93.2 50.7

84.8 112.0 59.0 95.5 52.7

87.2 113.3 61. 9 97.6 54.6

82.3 106.5 64.3 94.1 60.3

83.7 102.8 65.9 92.1 64.1

91.1 107.5 67.5 95.8 62.8

100.9 112.9 70.4 100.5 62.3

96.1 110.3 73.9 99.9 67.0

88.9 99.5 77.0 93.4 77.4

97.5 104.2 79.3 97.4 76.1

104.7 108.6 82,2 101.3 75.7

109.5 113.1 85.5 105.5 75.6

112.2 115.3 89.3 108.3 77.5

106.2 109.9 93.6 105,.7 85.2

106.9 109.3 97.6 106.2 89.3

100.0 100.0 100.0 100.0 100.0

106.2 101. 2 100.5 101.0 99.4

118.6 107.8 102.5 106.4 95.1

122.8 107.0 104.8 106.4 98.0

126,6 1'05.4 106.5 105.7 101. 0

134.3 106.2 107.5 106.6 101. 2

144.6 109.4 108.8 109.2 99.4

146,4 109.8 110.3 109.9 100.4

147.0 107.6 112.0 108.8 104.1

Source: Bureau of Labor Statistics

30.0

33.1

65.0

60.9

26.6

26.8

88.9

81.0

38.7

36.7

59.6

60.3

145.4

136.8

1948 43.6

1949 45.3

1950 47.8

1951 49.8

1952 50.8

1953 51. 9

1954 52.6

1955 55.1

1956 54.8

1957 56.0

1958 55.6

1959 58.1

1960 58.4

1961 60.1

1962 62.6

1963 66.9

1964 70.2

1965 72.1

1966 73.0

1967 73.1

1968 75.8

1969 77.0

1970 77.2

1971 81.4

1972 84.8

1973 89.4

1974 87.1

1975 89.4

1976 93.6

1977 96.5

1978 96.8

1979 97.3

1980 96.6

1981 97.9

1982 100.0

1983 105.0

1984 110.0

1985 114.8

1986 120.0

1987 126.4

1988 132.1

1989 133.3

1990 136.6
Table 4. Private business sector: Productivity and related measures, 1949-90 [lJ

Percent Change

11

Produotivity Inputs

Year Output per Output per Multifactor Output Hours of Capital Combined units Capital per

hour of all unit of productivity all persons Services of labor and hour of

persons capi ta 1 [2J [3J [4J [5J capital inputs[6] all persons

See footnotes following table 6.

4.9 7.4

1.2 3.2

-0.5 2.1

1.6 3.1

-4.0 -0.2

3.1 3.1

-1.3 0.5

-2.3 1.1

'"4.0 0.7

4.8 4.0

-1.3 0.8

-0.4 2.4

2.0 3.2

1.1 3.2

2.1 3.7

1.3 2.5

-0.7 1.7

-2.8 1.1

-0.2 2.1

-2.1 -0.4

-5.2 -0,9

-0,9 2.0

2.4 2,9

0.9 2.0

-6.6 -3,3

-5.4 -0.2

3.1 3.0

2,5 2.1

1.7 1.2

-2.3 -1.5

-6.0 -2.0

-2.2 0.4

-6.4 -2.4

1.8 2.3

4.8 3,3

0.4 1.6

-0,6 1.4

1.4 1,2

2.7 2.4

-0.4 -0.4

-2.0 -0.8

9.9 1.0 4.7 2.3 3.7

7.2 2.8 6.0 3.9 3.1

3,2 -0.1 3.7 1,1 3.9

4,7 0.9 3.1 1.6 2.2

-1. 9 -3.4 2.3 -1.7 5.8

7.0 3.7 3.8 3.8 0.1

2,9 1.5 4.3 2.4 2.8

1.1 -1. 6 3.5 0.0 5.2

-2,0 -4.8 2.1 -2.7 7.2

7.6 3.8 2.6 3.4 -1.2

1.8 0.0 3.1 1.0 3.0

2.0 -1. 7 2.3 -0.4 4.1

5.3 1.6 3.3 2.1 1.7

4.6 0.5 3.5 1.4 3.0

6.1 1.5 3.9 2.3 2.3

6.3 3.1 5.0 3.7 1.8

5.2 2,3 6.0 3.5 3.6

2.7 -0.3 5.6 1.5 6.0

4.5 1.4 4.7 2.4 3.3

2.7 2.4 4.9 3.2 2.5

-1.0 -1. 9 4.4 -0.1 6.5

2.8 -0.5 3.8 0.8 4.3

6.4 3.3 3.9 3.5 0.6

6.1 3.6 5.1 4.0 1.5

-1. 9 0,0 5.0 1.5 5.0

-2,2 -4.2 3.4 -2.0 8.0

5.9 2.9 2.7 2.8 -0.2

5.9 3.9 3.3 3.7 -0.6

5,8 4.9 4.0 4.6 -0.8

2.0 3.2 4.3 3.5 1.2

-1.2 -1.0 5.1 0.8 6.1

2.2 0.7 4.5 1.8 3.7

-3.1 -2.5 3.5 -0.7 6.2

4.3 1.8 2.4 2.0 0.6

8.5 5.8 3.5 5.1 -2.1

4.3 2.1 3.8 2.6 1.7

3.1 0.7 3.7 1.6 3.0

4.2 3.1 2.8 3.0 -0.2

5.3 3.0 2.5 2.8 -0.4

2,1 2.5 2.5 2.5 0.0

0.2 0.6 2.2 1.1 1.6

Source: Bureau of Labor Statistics

1949 0.9

1950 8.8

1951 4.3

1952 3.4

1953 3.8

1954 1.5

1955 3.2

1956 1.4

1957 2.7

1958 2.9

1959 3.6

1960 1.7

1961 3.7

1962 3.7

1963 4.1

1964 4.5

1965 3.1

1966 2.9

1967 3.0

1968 3.1

1969 0.3

1970 1.0

1971 3.3

1972 3.0

1973 2.4

1974 -1. 9

1975 2.1

1976 3.0

1977 1.9

1978 0.9

1979 -1.2

1980 -0.2

1981 1.5

1982 -0.6

1983 2.4

1984 2.6

1985 2.1

1986 2.3

1987 1.1

1988 2.3

1989 -0.4

1990 -0.4

-4.8 -1.2 -2.6 -3.4 2.4 -1.4 6.0
Table 5. Private nonfarm business sector: Productivity and related meuures, 1949-90 nJ

Percent Change

12

Productivity +nputll

Year Output per Output per Multifactor Output Hours of ca,ital COmbined unitJ Clipitill per

hour of all unit of productivity all penl)l'\s services of 14bor lInd hour of

persons capital [2J [3J [4J [SJ c.pltlll inputS[6] dl persons

1949 1.7 -4.4 -0.4 -2.3 -4.0 ~.l -1.9 6.4

1950 6.6 5.0 6.1 9.9 3.1 4.7 3,6 1.6

1951 3.1 1.5 2.6 7.8 4.6 6.2 5.1 1.6

1952 2.4 -0.6 1.4 3.2 0.8 3.8 1.1l 3.0

1953 2.2 1.4 2.0 4.7 2.4 3.3 2.7 0.8

1954 1.5 -4.3 -0.3 -2.0 -3.4 2.3 -1. 7 6.0

1955 3.0 3.1 3.0 7.2 4.1 4.1 4.1 0.0

1956 0.6 -1.4 0.0 3.1 2.5 4.6 3,2 2.1

1957 1.9 -2.3 0.6 1.3 -0.6 3,1 Q.7 4.4

1958 2.4 ·4.2 0.3 -2.1 -4.4 2.2 ••2.4 6.9

1959 3.3 4.9 3.8 7.8 4.3 2,8 3.8 -1.5

1960 1.1 -1.7 0.2 1.6 Q.5 3.3 1.4 2.8

1961 3.3 -0.5 2.1 2.0 -1.2 2.5 -0.1 3.8

1962 3.3 1.9 2.9 5,5 2.1 3.5 2.5 1.3

1963 3.7 1.0 2.8 4.7 1.0 3.7 1.9 2.1

1964 3.9 2.2 3.4 6.3 2.3 4.0 2.9 1.7

1965 2.6 1.1 2.1 6.4 3,7 5.2 4.2 1.5

1966 2.1 -0.7 1.2 5.6 3.4 6.3 4.3 2.8

1967 2.6 -3.2 0.7 2.5 -0.1 5.9 1,8 6.0

1968 3.0 -0.2 2.0 4.7 1.6 4.9 2.6 3.2

1969 -0.3 -2.4 -0.9 2.7 3.0 5.2 3.6 2.2

1970 0.6 -5.5 -1.2 -1.1 -1. 7 4.7 0.1 6.4

1971 3.0 -1.2 1.8 2.7 -0.3 3.9 0,9 4.3

1972 3.0 2.3 2.8 6.5 3.4 4.1 3.6 0.7

1973 2.2 0.7 1.8 6.2 3.9 5.4 4.4 1.4

1974 -1.9 -6.9 -3.3 -1.9 O.Q 5.4 1.5 5.3

1975 1.9 -5.8 -0.3 -2,4 -4.3 3.6 -2.1 8.3

1976 2.7 3.1 2.8 6.1 3.3 2.9 3.2 -0.4

1977 1.7 2.3 1.9 5.9 4.2 3.5 4.0 -0.7

1978 0.9 1.6 1.1 6.0 5.1 4.3 4,8 -0,7

1979 -1.5 -3.0 -2.0 1.8 3.4 5.0 3,9 1.6

1980 -0.4 -6.0 -2.0 -1,2 -0.9 5,0 0,11 6.0

1981 1.0 -2.8 -0.1 1.7 0.7 4.7 1.9 3.9

1982 -0.8 -6.8 -2.6 -3,3 -2.5 3.8 -0.7 6.5

1983 3.0 2.4 2.8 5.0 1.9 2.6 2.1 0,6

1984 2.1 4.4 2.8 8.4 6.1 3.8 li.4 -2.2

1985 1.4 -0.4 0.8 3.9 2.5 4.3 3.1 1.8

1986 2.1 -0.11 1.2 3.0 0.9 3.11 1,7 2.9

1987 1.0 1.3 1.1 4.3 3.3 3.0 3.2 -0.3

1988 2.5 2.8 2.6 5.7 3.1 2.8 3.1 -0.3

1989 -0.5 -0.7 -0.6 2.0 2.6 2.7 2,6 0.1

1990 -0.5 -2.1 -1.0 0.2 0.7 2.3 1,2 1,6

See footnotes following table 6. source: BUofeau IllfI,abor stlltistics
Table 6. Manufacturing sector: Productivity, and related measures, 1949-90 [lJ

Percent Change

13

Productivity Inputs

Year Output per Output per Mu1tifactor Output Hours of Capital Combined units Capital per

hour of all unit of productivity all persons Services of labor and hour of

persons capital [2J [3] [4J [5J capital inputs[6J all persons

See footnotes following table 6.

10.7 7.0

1.1 3.1

-2.1 0.9

3.0 2.4

-7.8 -1.2

6.5 5.2

-4.5 -1. 7

-3.1 0.8

r9.2 -3.0

9.7 5.9

-2.4 -0.3

-1.3 1.8

5.1 4.4

4.7 6.3

3.6 4.5

2.8 2.7

-0.7 0.7

-8.0 -2.2

-0.3 2.5

-2.1 0.6

-9.1 -2.1

-0.7 3.9

6.3 4.7

6.2 5.6

-9.3 -4.2

-11.2 -1.1

6.4 5.2

3.7 3.3

0.5 0.4

-2.0 -0.2

-9.7 -3.0

-3.4 0.1

-8.8 -0.6

5.7 5.2

9.5 5.9

1.3 3.5

1.5 3.7

5.0 5.2

6.4 5.1

-0.1 0.6

-1.1 1.5

14 .0 8.0 3.0 6.5 -4.7

12.0 7.7 10.7 8.6 2.8

3.4 1.3 5.7 2.5 4.3

7,3 5.1 4.1 4.8 -0.9

-7.4 -8.6 0.5 -6.3 9.9

10.5 5.5 3.8 5.0 -1.6

0.9 1.4 5.6 2.6 4.1

0.6 -1. 6 3.7 -0.2 5.4

-8.8 -8.2 0.4 -6.1 9.3

11.4 6.6 1.5 5.2 -4.8

0.2 -0.3 2.7 0.5 3.0

0.2 -2.6 1.5 -1.6 4.2

8.5 4.2 3.3 3.9 -0.8

7.9 1.0 3.1 1.6 2.1

7.1 2.2 3.3 2.5 1.2

8.7 5.9 5.8 5.9 0.0

7.7 6.4 8.4 7.0 1.9

-0.3 -0.5 8.4 2.0 9.0

5.1 1.5 5.4 2.5 3.9

2,8 1.2 5.0 2.2 3.7

-5.6 -5.9 3.8 -3.6 10.4

1.7 -3.5 2.4 -2.1 6.2

8.9 4.6 2.4 4.0 -2.0

10.7 5.0 4.3 4.8 -0.7

-4.8 -2.3 5.0 -0.5 7.5

-7.5 -9.8 4.2 -6.5 15.5

9.7 4.8 3.1 4.3 -1. 6

7.4 4.1 3.6 4.0 -0.6

4.5 4.2 4.0 4.1 -0.2

2.5 2.0 4.5 2.7 2.5

-5.4 -4.7 4.8 -2.4 9.9

0.7 -0.6 4.2 0.5 4.9

-6.5 -8.5 2.5 -5.9 12.0

6.2 1.2 0.5 1.0 -0.6

11.6 6.6 1.9 5.3 -4.3

3.6 -0.8 2.3 0.0 3.1

3.1 -1.4 1.6 -0.6 3.1

6.1 0.7 1.0 0.8 0.3

7.7 3.0 1.2 2.5 -1.8

1.3 0.4 1.4 0.6 1.0

0.4 -2.0 1.5 -1.0 3.7

Source: Bureau of Labor Statistics

1949 4.1

1950 5.5

1951 4.0

1952 2.1

1953 2.1

1954 1.3

1955 4.8

1956 -0.6

1957 2.2

1958 -0.7

1959 4.5

1960 0.5

1961 2.9

1962 4.2

1963 6.9

1964 4.8

1965 2.7

1966 1.2

1967 0.2

1968 3.6

1969 1.6

1970 0.3

1971 5.4

1972 4.1

1973 5.5

1974 -2.5

1975 2.5

1976 4.7

1977 3.1

1978 0.3

1979 0.5

1980 -0.7

1981 1.3

1982 2.2

1983 5.0

1984 4.7

1985 4.4

1986 4.6

1987 5.3

1988 4.5

1989 0.9

1990 2.5

-5.9 1.1 . -5.2 -8.9 0.8 -6.2 10.6
14

Footnotes, Tables 1-6

Source: Output data are from the Bureau of Economic Analysis (BEA), U.S.

Department of Commerce, and the Federal Reserve Board. Compensation and hours

data are from the Bureau of Labor Statistics, U.S. Department of Labor, and

BEA. Capital measures are based on data supplied by SEA and the U.S.

Department of Agriculture.

(1) The private business sector includes all of Gross National

Product except the output of general government, government

enterprises, non-profit institutions, and the rest-of-theworld sector, the rental value of owner-occupied real estate,

the output of paid employees of private households and the

statistical discrepancy in computing the national income and

product accounts. The private nonfarm business sector also

excludes farms but includes agricultural services.

(2) Output per'unit of combined labor and capital inputs.

(3) Gross Domestic Product originating in the sector, in constant

dollars.

(4) Hours at work of all persons including employees,

proprietors, and unpaid family workers engaged in the sector.

(5) A measure of the flow of capital services used in the sector.

(6) Hours at work of all persons combined with capital input,

using labor's and capital's shares of costs as weights.
Table 7. Private business sector: Real capital inputs, 1948-90

Indexes 1982 = 100

15

Rental

All Equip- Residential

Year Assets ment Structures Capital Inventories Land

1948 27.0 16.1 ·31.1 39.2 30.5 42.1

1949 27.6 17.7 31.5 39.5 29.6 42.9

1950 28.9 19.3 32.1 40.0 32.1 43.7

1951 30.7 21.0 32.8 40.4 36.7 44.5

1952 31.8 22.3 33.8 40.8 38.3 45.4

1953 32.8 23.6 34.7 41.1 39.3 46.5

1954 33.5 24.7 35.9 41.5 38.4 47.7

1955 34.8 26.0 37.2 41. 9 40.6 48.9

1956 36.3 27.5 38.8 42.4 42.6 50.3

1957 37·.6 28.8 40.8 42.8 42.8 51. 9

1958 38.3 29.6 42.5 43.4 41. 6 53.4

1959 39.3 30.2 44.0 44.3 42.6 54.7

1960 40.5 31.0 45.6 45.2 44.7 55.5

1961 41.5 31.8 47.4 46.2 44.4 56.5

1962 42.8 32.7 49.0 47.5 46.5 57.9

1963 44.3 33.9 50.8 49.2 48.4 59.5

1964 46.1 35.4 52.7 51.2 50.2 61.1

1965 48.3 37.5 55.0 53.2 53.4 62.9

1966 51.2 40.3 57.9 54.9 58.0 64.9

1967 54.1 43.2 60.8 56.5 62.6 66.9

1968 56.7 45.8 63.6 58.3 65.5 68.7

1969 59.4 48.7 66.4 60.7 68.6 70.6

1970 62.1 51. 6 69.2 63.1 70.8 72.5

1971 64.4 54.0 71.7 65.7 72 .5 74.2

1972 66.9 56.8 74.0 68.8 74.2 75.8

1973 70.4 60.8 76.4 72 .1 78.4 77.9

1974 73.9 65.2 79.1 74.4 83.2 80.0

1975 76.4 68.8 81.4 75.7 83.8 82.0

1976 78.5 71.6 83.2 76.9 85.3 83.4

1977 81.1 75.5 85.0 78.4 88.9 84.8

1978 84.3 80.6 87.0 80.5 93.3 86.0

1979 88.0 86.3 89.5 84.8 97.4 85.6

1980 92.5 91.7 92.5 90.6 98.9 91. 6

1981 96.6 96.3 96.3 95.6 100.1 96.4

1982 100.0 100.0 100.0 100.0 100.0 100.0

1983 102.4 103.3 102.7 102.5 97.6 102.9

1984 106.0 107.8 105.2 105.2 103.1 106.0

1985 110.1 113.8 108.0 109.6 106.7 107.7

1986 114.2 119.9 110.6 112.8 109.1 112.0

1987 117.4 125.2 112.4 115.4 110.5 114.8

1988 120.4 130.4 113.8 117.6 113.1 115.9

1989 123.3 135.6 115.5 119.5 115.3 116.7

1990 126.0 140.2 117.2 121.4 116.3 117.9

Source: Bureau of Labor Statistics
Table 8. Private nonfarm business sector: Real capital inputs, 1948-90

Indexes 1982 = 100

16

Rental

All Equip- Residential

Year Assets ment Structures Capital Inventories Land

1948 25.2 15.6 30.9 38.9 29.6 30.3

1949 25.7 16.9 31.4 39.2 28.7 31.0

1950 26.9 18.4 31.8 39.7 31.2 31.8

1951 28.6 19.9 32.6 40.2 35.9 32.5

1952 29.7 21.2 33.5 40.5 37.4 33.5

1953 30.6 22.4 34.5 40.8 38.5 34.5

1954 31.4 23.6 35.6 41.2 37.4 35.7

1955 32.6 24.9 36.9 41. 6 39.7 36.7

1956 34.1 26.3 38.6 42.1 41. 8 38.1

1957 35.4 27.7 40.6 42.6 42.0 39.6

1958 36.2 28.6 42.3 43.2 40.6 41.0

1959 37.2 29.1 43.8 44.0 41.7 42.2

1960 38.4 30.0 45.5 44.9 43.8 43.4

1961 39.4 30.8 47.2 45.9 43.4 44.5

1962 40.8 31.8 48.9 47.3 45.5 46.0

1963 42.3 33.0 50.7 49.0 47.3 47.7

1964 44.0 34.5 52.5 51.0 49.2 49.3

1965 46.3 36.6 54.9 52.9 52.4 51.2

1966 49.2 39.4 57.9 54.7 57.0 53.5

1967 52.1 42.2 60.8 56.3 61. 8 55.7

1968 54.7 44.8 63.6 58.1 64.6 57.8

1969 57.5 47.8 66.4 60.5 67.8 60.0

1970 60.2 50.6 69.3 62.9 70.0 62.3

1971 62.6 53.0 71.8 65.5 71.6 64.4

1972 65.2 55.8 74.1 68.6 73.3 66.6

1973 68.7 59.8 76.6 71.9 77.6 69.7

1974 72 .4 64.2 79.2 74.3 82.4 72.7

1975 75.0 67.8 81.5 75.6 82.9 75.5

1976 77.2 70.6 83.3 76.8 84.7 77.9

1977 80.0 74.5 84.9 78.3 88.6 80.0

1978 83.4 79.7 86.9 80.4 93.3 81.8

1979 87.6 85.5 89.4 84.7 97.3 84.5

1980 92.0 91. 0 92.4 90.5 99.0 89.7

1981 96.3 95.9 96.2 95.6 100.2 95.7

1982 100.0 100.0 100.0 100.0 100.0 100.0

1983 102.6 103.7 102.8 102.5 97.8 103.0

1984 106.4 108.7 105.3 105.2 103.4 106.3

1985 111. 0 115.3 108.3 109.7 107.2 109.7

1986 115.2 122.2 111. 0 112.9 109.8 112.2

1987 118.7 128.2 112.9 115.5 111. 6 113.6

1988 122.0 134.2 114.5 117.7 114.5 114.7

1989 125.4 140.1 116.4 119.7 116.7 115.5

1990 128.3 145.3 118.3 121.6 117.6 116.1

Source: Bureau of Labor Statistics
Table 9. Manufacturing sector: Real capital inputs, 1948-90

Indexes 1982 = 100

17

All EquipYear Assets ment Structures Inventories Land

1948 26.6 21.5 33.4 29.1 30.2

1949 26.8 23.1 33.5 27.7 30.4

1950 27.6 24.0 33.5 29.3 30.3

1951 30.6 25.2 34.2 37.0 31.1

1952 32.3 26.6 35.6 39.5 32.7

1953 33.7 27.8 36.9 41.1 34.3

1954 33.8 29.0 38.1 39.1 35.7

1955 35.1 30.0 39.2 40.9 37.0

1956 37.1 31.4 41. 0 44.0 39.1

1957 38.5 33.0 43.5 44.0 42.1

1958 .

38.6 34.0 45.1 41.5 43.9

1959 39.2 34.3 45.9 42.4 44.6

1960 40.3 34.7 46.9 44.5 45.6

1961 40.9 35.3 48.5 44.1 47.3

1962 42.2 35.9 50.1 46.6 48.3

1963 43.5 36.7 51.7 48.6 49.3

1964 45.0 37.9 53.6 50.2 50.6

1965 47.6 40.0 56.4 53.6 53.1

1966 51. 6 42.9 60.9 59.0 57.5

1967 56.0 45.8 65.9 65.2 62.8

1968 59.0 48.3 70.0 68.2 67.1

1969 61. 9 50.6 73.7 71.4 70.8

1970 64.3 52.8 77.0 73.1 73.9

1971 .65.9 54.7 79.4 72.8 76.3

1972 67.5 56.7 81.2 73.0 78.0

1973 70.4 59.4 82.9 77.5 79.5

1974 73.9 62.9 84.9 83.4 80.9

1975 77.0 67.0 86.9 85.2 82.3

1976 79.3 70.6 88.4 86.6 83.4

1977 82.2 74.5 89.8 90.0 84.1

1978 85.5 79.3 91.3 93.2 84.9

1979 89.3 84.3 93.5 97.0 86.6

1980 93.6 89.8 95.7 100.0 92.6

1981 97.6 95.4 97.8 101. 0 99.1

1982 100.0 100.0 100.0 100.0 100.0

1983 100.5 102.3 101. 2 96.2 98.8

1984 102.5 104.3 102.0 100.2 97.7

1985 104.8 108.3 103.1 100.6 98.8

1986 106.5 111.9 103.9 99.5 99.6

1987 107.5 113.7 104.3 100.0 100.1

1988 108.8 115.3 104.7 101. 8 100.7

1989 110.3 117.7 105.3 102.2 101. 4

1990 112.0 120.3 106.4 102.5 102.3

Source: Bureau of Labor Statistics
Table 10. Private business sector: Real capital inputs, 1949-90

Percent Change

18

Rental

All Equip- Residential

Year Assets ment Structures Capital Inventories Land

1949 2.4 9.7 . 1.5 0.8 -3.0 1.8

1950 4.7 9.2 1.6 1.1 8.5 1.9

1951 6.0 8.5 2.4 1.2 14.4 1.8

1952 3.7 6.4 2.8 0.8 4.4 2.1

1953 3.1 5.5 2.9 0.8 2.7 2.4

1954 2.3 5.0 3.2 0.9 -2.4 2.7

1955 3.8 5.1 3.6 1.1 5.6 2.4

1956 4.3 5.6 4.5 1.1 5.1 2.9

1957 3.5 4.9 5.0 1.1 0.5 3.2

1958 2-.1 2.7 4.1 1.4 -3.0 2.9

1959 2.6 1.9 3.6 2.0 2.5 2.4

1960 3.1 2.8 3.7 2.0 4.9 1.5

1961 2.3 2.5 3.8 2.2 -0.7 1.8

1962 3.3 2.9 3.5 2.9 4.6 2.5

1963 3.5 3.6 3.6 3.7 4.1 2.6

1964 3.9 4.4 3.7 4.0 3.8 2.8

1965 5.0 6.1 4.5 3.8 6.3 2.9

1966 6.0 7.5 5.2 3.3 8.6 3.2

1967 5.6 7.0 5.0 2.8 8.0 3.0

1968 4.7 6.1 4.5 3.2 4.6 2.8

1969 4.9 6.4 4.5 4.1 4.7 2.8

1970 4.4 5.8 4.2 4.0 3.2 2.6

1971 3.8 4.7 3.6 4.0 2.4 2.3

1972 3.9 5.2 3.2 4.8 2.4 2.2

1973 5.1 7.0 3.3 4.8 5.7 2.8

1974 5.0 7.4 3.4 3.2 6.1 2.7

1975 3.4 5.4 2.9 1.8 0.7 2.5

1976 2.7 4.2 2.3 1.5 1.8 1.7

1977 3.3 5.4 2.1 2.0 4.2 1.6

1978 4.0 6.8 2.4 2.6 5.1 1.4

1979 4.3 7.1 2.9 5.3 4.3 -0.5

1980 5.1 6.2 3.4 6.8 1.6 7.0

1981 4.5 5.0 4.0 5.6 1.2 5.3

1982 3.5 3.8 3.9 4.6 -0.1 3.8

1983 2.4 3.3 2.7 2.5 -2.4 2.9

1984 3.5 4.4 2.4 2.7 5.6 3.0

1985 3.8 5.6 2.7 4.2 3.6 1.6

1986 3.7 5.4 2.3 2.9 2.2 4.0

1987 2.8 4.4 1.6 2.3 1.2 2.5

1988 2.5 4.1 1.3 1.9 2.4 0.9

1989 2.5 4.0 1.5 1.7 1.9 0.7

1990 2.2 3.4 1.4 1.6 0.9 1.0

Source: Bureau of Labor Statistics
Table 11. Private nonfarm business sector: Real capital inputs, 1949-90

Percent Change

19

Rental

All Equip- Residential

Year Assets ment Structures Capital Inventories Land

1949 2.1 8.7 1.4 0.8 -3.1 2.3

1950 4.7 8.6 1.5 1.1 8.6 2.5

1951 6.2 8.4 2.4 1.2 15.0 2.5

1952 3.8 6.5 2.8 0.8 4.3 2.8

1953 3.3 5.7 2.9 0.8 2.9 3.1

1954 2.3 5.2 3.3 0.9 -2.6 3.5

1955 4.1 5.4 3.6 1.1 5.9 2.9

1956 4.6 6.0 4.6 1.2 5.5 3.6

1957 3.7 5.3 5.1 1.1 0.4 4.1

1958 2.2 3.0 4.2 1.4 -3.3 3.5

1959 2.8 2.0 3.7 2.0 2.6 3.0

1960 3.3 2.9 3.8 2.1 5.1 2.6

1961 2.5 2.8 3.8 2.2 -0.8 2.7

1962 3.5 3.1 3.6 2.9 4.7 3.4

1963 3.7 3.7 3.6 3.7 4.1 3.5

1964 4.0 4.5 3.7 4.0 4.0 3.5

1965 5.2 6.2 4.5 3.8 6.5 3.9

1966 6.3 7.6 5.3 3.4 8.8 4.4

1967 5.9 7.1 5.1 2.8 8.3 4.1

1968 4.9 6.2 4.6 3.2 4.7 3.8

1969 5.2 6.6 4.5 4.1 4.9 4.0

1970 4.7 5.9 4.3 4.0 3.2 3.8

1971 3.9 4.8 3.6 4.0 2.4 3.3

1972 4.'1 5.3 3.2 4.9 2.4 3.3

1973 5.4 7.1 3.4 4.8 5.8 4.7

1974 5.4 7.5 3.4 3.2 6.3 4.4

1975 3.6 5.5 2.9 1.8 0.6 3.9

1976 2.9 4.2 2.2 1.5 2.1 3.1

1977 3.5 5.4 2.0 2.0 4.6 2.7

1978 4.3 7.0 2.3 2.7 5.3 2.2

1979 5.0 7.4 2.9 5.3 4.3 3.3

1980 5.0 6.4 3.4 6.9 1.8 6.2

1981 4.7 5.4 4.1 5.6 1.1 6.6

1982 3.8 4.2 4.0 4.6 -0.2 4.5

1983 2.6 3.7 2.8 2.5 -2.2 3.0

1984 3.8 4.8 2.5 2.7 5.7 3.2

1985 4.3 6.1 2.9 4.2 3.7 3.1

1986 3.8 5.9 2.5 2.9 2.5 2.3

1987 3.0 4.9 1.8 2.3 1.6 1.3

1988 2.8 4.6 1.4 1.9 2.6 0.9

1989 2.7 4.4 1.7 1.7 2.0 0.7

1990 2.3 3.7 1.6 1.6 0.8 0.5

Source: Bureau of Labor Statistics
Table 12. Manufacturing sector: Real capital inputs, 1949-90

Percent Change

20

All EquipYear Assets ment Structures Inventories Land

1949 0.8 7.2 0.5 -4.8 0.5

1950 3.0 4.1 -0.1 5.5 -0.3

1951 10.7 5.0 2.0 26.6 2.6

1952 5.7 5.5 4.1 6.8 5.2

1953 4.1 4.6 3.8 3.9 5.0

1954 0.5 4.0 3.1 -4.8 4.1

1955 3.8 3.8 2.9 4.6 3.4

1956 5.6 4.5 4.7 7.5 5.9

1957 3.7 5.2 6.0 0.0 7.5

1958 0.4 2.9 3.7 -5.7 4.3

1959 1.5 0.9 1.7 2.1 1.5

1960 2.7 1.3 2.4 5.0 2.4

1961 1.5 1.6 3.3 -1. 0 3.6

1962 3.3 1.8 3.2 5.8 2.1

1963 3.1 2.3 3.3 4.2 2.2

1964 3.3 3.3 3.6 3.3 2.7

1965 5.8 5.4 5.4 6.8 4.9

1966 8.4 7.3 8.0 10.1 8.3

1967 8.4 6.8 8.1 10.4 9.2

1968 5.4 5.3 6.3 4.5 6.8

1969 5.0 4.9 5.2 4.8 5.5

1970 3.8 4.4 4.5 2.3 4.4

1971 2.4 3.4 3.2 -0.3 3.2

1972 2.4 3.8 2.3 0.3 2.2

1973 4.3 4.7 2.1 6.1 1.9

1974 5.0 6.0 2.4 7.6 1.9

1975 4.2 6.5 2.3 2.2 1.7

1976 3.1 5.3 1.7 1.6 1.3

1977 3.6 5.5 1.5 3.9 0.8

1978 4.0 6.4 1.7 3.6 1.0

1979 4.5 6.3 2.4 4.1 2.0

1980 4.8 6.5 2.3 3.0 6.9

1981 4.2 6.3 2.2 1.1 7.1

1982 2.5 4.9 2.2 -1.0 0.9

1983 0.5 2.3 1.2 -3.8 -1.2

1984 1.9 1.9 0.8 4.2 -1.2

1985 2.3 3.8 1.0 0.4 1.1

1986 1.6 3.3 0.8 -1.1 0.8

1987 1.0 1.6 0.4 0.5 0.5

1988 1.2 1.4 0.4 1.9 0.6

1989 1.4 2.1 0.6 0.4 0.7

1990 1.5 2.2 1.0 0.2 0.9

Source: Bureau of Labor Statistics