USDL 05-1513
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 8:30 A.M. EDT
TUESDAY, AUG. 9, 2005

Internet address      http://www.bls.gov/lpc/  
        
Historical,                           
technical
information:          (202) 691-5606         
Current data:  	      (202) 691-5200         
Media contact:        (202) 691-5902         

                                    
                                    
                         PRODUCTIVITY AND COSTS
                     Preliminary Second Quarter 2005
                                    
                                    
     The Bureau of Labor Statistics of the U.S. Department of Labor
reported preliminary productivity data--as measured by output per hour of
all persons--for the second quarter of 2005. The preliminary seasonally
adjusted annual rates of productivity change in the second quarter were:


               1.2 percent in the business sector and
               2.2 percent in the nonfarm business sector.
               

Productivity growth in the business sector reflected increases of 4.2
percent in output and 3.0 percent in hours.  Output per hour increased
more in the nonfarm business sector because output grew more, 4.4
percent, and hours rose less, 2.1 percent, than in the business sector.

     In manufacturing, the preliminary productivity changes in the second
quarter were:

               4.1 percent in manufacturing,
               3.8 percent in durable goods manufacturing, and
               5.0 percent in nondurable goods manufacturing.
               
Manufacturing productivity grew 4.1 percent in the second quarter as
output increased 1.2 percent and hours declined 2.8 percent (seasonally
adjusted annual rates).  Output and hours in manufacturing, which
includes about 13 percent of U.S. business-sector employment, tend to
vary more from quarter to quarter than data for the aggregate business
and nonfarm business sectors.  Second-quarter measures are summarized in
table A and appear in detail in tables 1 through 5.

     The data sources and methods used in the preparation of the
manufacturing series differ from those used in preparing the business and
nonfarm business series, and these measures are not directly comparable.
Output measures for business and nonfarm business are based on measures
of gross domestic product prepared by the Bureau of Economic Analysis of
the U.S. Department of Commerce.  Quarterly output measures for
manufacturing reflect indexes of industrial production independently
prepared by the Board of Governors of the Federal Reserve System.  See
Technical Notes for further information on data sources.

-----------------------------------------------------------------------------
Data in this release reflect the regular multi-year revisions to the national
income and product accounts released by the Bureau of Economic Analysis of 
the U.S. Department of Commerce on July 29. See Revised Measures.
-----------------------------------------------------------------------------


-----------------------------------------------------------------------------
Table A. Productivity and costs: Preliminary second-quarter 2005
measures (Seasonally adjusted annual rates)
-----------------------------------------------------------------------------                                                                  
                                                        Real      
                                              Hourly    hourly    Unit
                   Produc-                    compen-   compen-   labor
Sector             tivity    Output   Hours   sation    sation    costs
-----------------------------------------------------------------------------                   
                      Percent change from preceding quarter
                      
Business            1.2       4.2       3.0     2.5      -1.6       1.4
Nonfarm business    2.2       4.4       2.1     3.5      -0.6       1.3
Manufacturing       4.1       1.2      -2.8     6.6       2.3       2.3
  Durable           3.8       1.9      -1.8     6.3       2.0       2.4
  Nondurable        5.0       0.1      -4.6     6.9       2.6       1.8
-----------------------------------------------------------------------------  
                      Percent change from same quarter a year ago
                      
Business            2.1       4.2       2.0     6.6       3.6       4.3
Nonfarm business    2.3       4.3       2.0     6.7       3.6       4.3
Manufacturing       4.7       3.4      -1.3     8.6       5.6       3.7
  Durable           5.4       4.8      -0.5     8.5       5.4       3.0
  Nondurable        4.2       1.5      -2.6     8.7       5.6       4.3
-----------------------------------------------------------------------------


Business

     From the first quarter to the second quarter of 2005, business
sector output per hour increased at a 1.2-percent annual rate.  Output
increased 4.2 percent and hours of all persons engaged in the sector
increased 3.0 percent (seasonally adjusted annual rates).  As revised,
labor productivity grew 2.9 percent in the first quarter of 2005, as
output and hours increased 4.4 percent and 1.4 percent, respectively
(table 1).

     Hourly compensation increased 2.5 percent in the second quarter,
less than the 6.2 percent gain in the first quarter of 2005 (seasonally
adjusted annual rates).  This measure of compensation includes wages and
salaries, supplements, employer contributions to employee benefit plans,
and taxes.  Real hourly compensation, which takes into account changes in
consumer prices, declined 1.6 percent during the second quarter of 2005,
after rising 3.7 percent during the first quarter.

     Unit labor costs, which reflect changes in both hourly compensation
and productivity, increased 1.4 percent during the second quarter of 2005
after rising 3.2 percent in the previous quarter.  The implicit price
deflator for the business sector, which reflects changes in both unit
labor costs and unit nonlabor payments, increased 2.3 percent in the
second quarter and 2.7 percent in the first quarter of 2005.


Nonfarm Business


     Productivity increased 2.2 percent in the nonfarm business sector
during the second quarter of 2005, as output increased 4.4 percent and
hours of all persons rose 2.1 percent (seasonally adjusted annual rates).
Output per hour grew at a 3.2 percent annual rate in the first quarter of
2005, as output increased 4.3 percent and hours increased 1.1 percent
(table 2).

     Hourly compensation in the nonfarm business sector increased 3.5
percent in the second quarter of 2005, less than the 6.9-percent rise one
quarter earlier.  When the rise in consumer prices is taken into account,
real hourly compensation fell 0.6 percent in the second quarter of 2005
after increasing 4.5 percent in the first quarter.

     Unit labor costs increased 1.3 percent in the second quarter of
2005, after rising 3.6 percent during the first quarter.  The implicit
price deflator for nonfarm business output grew 2.3 percent in the second
quarter, following a 3.0-percent increase in the previous quarter.


Manufacturing


     Productivity increased 4.1 percent in manufacturing, as output grew
1.2 percent and hours of all persons declined 2.8 percent (seasonally
adjusted annual rates).  Output increased less than in any quarter since
the second quarter of 2003, when it fell 3.4 percent.  In the first
quarter of 2005, productivity rose 4.2 percent, reflecting a 3.5-percent
increase in output and a decline of 0.7 percent in hours.  In durable
goods, productivity rose 3.8 percent in the second quarter as output grew
1.9 percent and hours of all persons fell 1.8 percent.  In nondurable
goods, second-quarter productivity increased by 5.0 percent as output
edged up 0.1 percent and hours fell 4.6 percent (tables 3, 4, and 5).
Hours worked in nondurable goods industries have fallen in 24 consecutive
quarters, beginning with the third quarter of 1999.

     Hourly compensation of all manufacturing workers rose 6.6 percent
during the second quarter, reflecting growth of 6.3 percent in durable
goods industries and 6.9 percent in the  nondurable manufacturing sector.
When the increase in consumer prices is taken into account, the real
hourly compensation of all manufacturing workers rose 2.3 percent in the
second quarter, after increasing 4.7 percent one quarter earlier.

     Unit labor costs in manufacturing rose 2.3 percent in the second
quarter of 2005, reflecting increases of 2.4 percent in durable goods
industries and 1.8 percent in nondurable goods industries.


Revised Measures


     Revised and previous measures for the first quarter of 2005 for the
business, nonfarm business, and manufacturing sectors are compared in
table B.  In business and nonfarm business, output and productivity were
revised upward from the numbers reported on June 2, while hours movements
were unchanged.  In the manufacturing sector, productivity was revised
downward-- output was not revised and hours decreased less than
previously reported.  In all three sectors, hourly compensation increases
were revised up for the first quarter of 2005.  In the nonfarm business
and manufacturing sectors, unit labor costs grew faster than reported
June 2.

-----------------------------------------------------------------------------
Table B. Previous and revised productivity and related measures
Quarterly percent changes at seasonally adjusted annual rates
-----------------------------------------------------------------------------                                                                
                                                      Real      
                                             Hourly   hourly    Unit
                   Produc-                   compen-  compen-   labor
Sector             tivity   Output   Hours   sation   sation    costs
-----------------------------------------------------------------------------
                                                                
                             First quarter 2005
                             
Business:                                                       
  Previous          2.6      4.0      1.4      6.0      3.5       3.3
  Revised           2.9      4.4      1.4      6.2      3.7       3.2
  
Nonfarm business:                                               
  Previous          2.9      4.0      1.1      6.3      3.9       3.3
  Revised           3.2      4.3      1.1      6.9      4.5       3.6
   
Manufacturing:                                                  
  Previous          4.4      3.5     -0.9      6.2      3.8       1.7
  Revised           4.2      3.5     -0.7      7.1      4.7       2.8
-----------------------------------------------------------------------------

     Table C presents previous and revised productivity and related
measures for major sectors for the years 2002, 2003, and 2004.  Output
data for the business and nonfarm business sectors, and the compensation
series for all sectors, incorporate revisions to national income and
product accounts data released by the Bureau of Economic Analysis, U.S.
Department of Commerce, on July 29.  These revisions affected
productivity and costs data beginning with the first quarter of 2002, and
revised quarterly data appear in tables 1 through 5 and appendix tables 1
through 5.

     Output and productivity growth in the business and nonfarm business
sectors were revised downward in each year from 2002 to 2004.  For 2002,
upward revisions to hourly compensation in these sectors combined with
productivity revisions to produce smaller decreases in unit labor costs
than shown in the June 2 release. Unit labor costs do not decline in 2003
after revision.  For 2004, these costs increased more in the business and
nonfarm business sectors than reported previously because productivity
was revised down by more than hourly compensation.

-----------------------------------------------------------------------------
Table C. Previous and revised productivity and related measures
Annual percent changes
-----------------------------------------------------------------------------                                                                
                                                      Real      
                                             Hourly   hourly     Unit
                   Produc-                   compen-  compen-    labor
Sector             tivity   Output   Hours   sation   sation     costs
-----------------------------------------------------------------------------                                                                
                          Annual average 2004
                          
Business:                                                       
  Previous         3.9       5.1       1.2     4.9      2.2        1.0
  Revised          3.4       4.8       1.3     4.6      1.9        1.2
  
Nonfarm business:                                               
  Previous         4.0       5.3       1.2     4.8      2.1        0.8
  Revised          3.4       4.8       1.4     4.5      1.8        1.1
  
Manufacturing:                                                  
  Previous         5.3       4.8      -0.4     4.7      2.0       -0.5
  Revised          5.3       4.8      -0.4     2.2     -0.5       -2.9
  
                          Annual average 2003
Business:                                     

  Previous         4.4       3.8      -0.5     4.0      1.7       -0.3
  Revised          3.9       3.4      -0.5     3.9      1.6        0.0
  
Nonfarm business:                                               
  Previous         4.3       3.8      -0.5     4.0      1.7       -0.3
  Revised          3.8       3.3      -0.5     4.0      1.6        0.2
  
Manufacturing:                                                  
  Previous         5.2       0.0      -4.9     8.7      6.2        3.3
  Revised          5.2       0.0      -4.9     8.3      5.9        3.0
  
                          Annual average 2002
Business:                                                       
  Previous         4.3       1.8      -2.4     3.1      1.5       -1.1
  Revised          4.0       1.5      -2.4     3.4      1.8       -0.5
  
Nonfarm business:                                               
  Previous         4.3       1.8      -2.5     3.2      1.6       -1.1
  Revised          4.0       1.5      -2.5     3.5      1.9       -0.5
  
Manufacturing:                                                  
  Previous         7.5      -0.1      -7.1     6.6      5.0       -0.8
  Revised          7.5      -0.1      -7.1     7.3      5.6       -0.3
-----------------------------------------------------------------------------  
     
     
     In the manufacturing sector, there were revisions only to hourly
compensation and, therefore, to real hourly compensation and unit labor
costs.  Hourly compensation growth was higher in 2002, and lower in 2003
and 2004, than previously reported.  Manufacturing unit labor costs
declined 0.3 percent in 2002, rose 3.0 percent in 2003, and fell 2.9
percent in 2004.


Revised Measures: Nonfinancial Corporations


     Productivity and cost measures for the first quarter of 2005 for
nonfinancial corporations also were revised to incorporate more recent
information than was available in the June 2 release (table D).
Increases in productivity and output were revised up, to 3.6 percent and
4.1 percent, respectively, as the first quarter increase in employee
hours remained at 0.5 percent (seasonally adjusted annual rates).  Hourly
compensation was revised up by less than productivity, so the increase in
unit labor costs was revised down, from 4.1 percent to 3.5 percent.  Unit
profits rose 6.2 percent, rather than falling 6.1 percent as reported
June 2.  For the year 2004, output per hour and hourly compensation were
both revised down.  Hourly compensation was revised down by more,
resulting in a smaller increase in unit labor costs than previously
reported.

-----------------------------------------------------------------------------
Table D.  Nonfinancial corporations: Previous and revised productivity and 
cost measures 
Percent changes at seasonally adjusted annual rates
-----------------------------------------------------------------------------                                                                      
                                             Real                     
                                    Hourly   hourly   Unit            Implicit
            Produc-                 compen-  compen-  labor  Unit     price
            tivity   Output  Hours  sation   sation   costs  profits  deflator
------------------------------------------------------------------------------                                                                      
                            First quarter 2005
                            
Previous...  2.7      3.2     0.5     6.8      4.4      4.1    -6.1     2.4
Revised....  3.6      4.1     0.5     7.3      4.8      3.5     6.2     2.2

                            Annual average 2004
                            
Previous...  4.2      5.6     1.4     4.8      2.1      0.6    19.8     1.8
Revised....  3.9      5.3     1.4     4.0      1.3      0.2    18.3     1.7

                            Annual average 2003
                            
Previous...  4.1      2.8    -1.3     4.0      1.7     -0.1    20.1     1.4
Revised....  4.1      2.7    -1.4     3.9      1.6     -0.2    19.0     1.4
 
                            Annual average 2002
                            
Previous...  3.9      1.0    -2.8     3.0      1.4     -0.8    16.0     0.6
Revised....  3.8      0.9    -2.8     3.4      1.8     -0.4    19.2     0.6
------------------------------------------------------------------------------                                    
                                    
                                    
                            
                                    
                                    
                            Next release date
                                    
     The next release of Productivity and Costs is scheduled for 8:30
a.m. EDT, Wednesday, Sept. 7, 2005.  Revised second-quarter measures for
business, nonfarm business, and manufacturing will be released at that
time, along with preliminary measures for nonfinancial corporations.




------------------------------------------------------------------------------
The index numbers and rates of change reported by BLS for productivity 
and costs in its news release and on its Internet site are rounded to 
one decimal place, based upon unrounded data using many decimal places.  
This rounding protocol has been practiced in order to facilitate ease of
use and interpretation of the published data.  This has meant, however, 
that if data users calculated rates of change using the published rounded
index figures, their results could differ from the published rates of 
change, simply due to differences in rounding.

In order to make the data directly used in the calculations more readily
available to the public and to ensure greater transparency of its calculating
methods, BLS, beginning with the December 6, 2005 publication of the quarterly
Productivity and Costs news release, will modify its productivity program 
practices.  It will post on its web site productivity index numbers rounded
to three decimal places, and, in addition, will calculate all published rates
of change from those indexes.  The change in calculation method may cause 
published productivity growth rates to change slightly--likely by no more 
than a tenth--from the rates that would have been calculated using the current
method.  The convention of publishing in the news release index values rounded
to one decimal place will continue. 
------------------------------------------------------------------------------
                                   
                            TECHNICAL NOTES

Labor  Hours: Hours data for the labor productivity and cost  measures
include  hours for all persons working in the sector-wage  and  salary
workers,  the  self-employed and unpaid family workers.   The  primary
source  of  hours  and employment data is the BLS  Current  Employment
Statistics  (CES) program, which provides monthly survey data  on  the
number  of  jobs  held  by wage and salary workers  in  nonfarm  estab-
lishments.   The  CES  also  provides average  weekly  paid  hours  of
production and nonsupervisory workers in these establishments.  Weekly
paid  hours are adjusted to hours at work using data from the National
Compensation  Survey (NCS).  The BLS Hours at Work  survey,  conducted
for  this  purpose, was used for years prior to 2001.  The  Office  of
Productivity and Technology estimates average weekly hours at work for
nonproduction  and  supervisory workers  using  information  from  the
Current Population Survey (CPS), the CES, and the NCS.
     Data  from  the CPS are used for farm labor, nonfarm proprietors,
and  nonfarm  unpaid  family workers.  Estimates of  labor  input  for
government  enterprises are derived from the CPS,  the  CES,  and  the
National Income and Product Accounts (NIPA) prepared by the Bureau  of
Economic Analysis (BEA) of the Department of Commerce.

Output: Business sector output is an annual-weighted index constructed
after  excluding  from  gross  domestic product  (GDP)  the  following
outputs:  general  government,  nonprofit  institutions,  and  private
households   (including  owner-occupied  housing).  Corresponding   ex-
clusions also are made in labor inputs. Business output accounted  for
about  78 percent of the value of GDP in 2000. Nonfarm business, which
also excludes farming, accounted for about 77 percent of GDP in 2000.
   Annual  indexes  for manufacturing and its durable  and  nondurable
goods  components are constructed by deflating current-dollar industry
value  of  production data from the U.S. Bureau  of  the  Census  with
deflators  from the BEA.  These deflators are based on data  from  the
BLS  producer price program and other sources.  The industry shipments
are  aggregated using annual weights, and intrasector transactions are
removed.   Quarterly manufacturing output measures are  based  on  the
index  of  industrial  production prepared monthly  by  the  Board  of
Governors  of  the Federal Reserve System, adjusted to  be  consistent
with  annual indexes of manufacturing sector output prepared  by  BLS.
Durables include the following 3-digit NAICS industries: wood  product
manufacturing;  nonmetallic  mineral  product  manufacturing;  primary
metal manufacturing; fabricated metal product manufacturing; machinery
manufacturing;   computer   and  electronic   product   manufacturing;
electrical   equipment  and  appliance  manufacturing;  transportation
equipment  manufacturing; furniture and related product manufacturing;
and  miscellaneous  manufacturing. Nondurables include:  food  manufac-
turing;  beverage  and tobacco product manufacturing;  textile  mills;
textile  product  mills;  apparel manufacturing;  leather  and  allied
product  manufacturing;  paper  manufacturing;  printing  and  related
support   activities;  petroleum  and  coal  products   manufacturing;
chemical    manufacturing;   and   plastics   and   rubber    products
manufacturing.
   Nonfinancial   corporate   output  is  an   annual-weighted   index
calculated  on the basis of the costs incurred and the incomes  earned
from  production.   The output measure excludes the following  outputs
from   GDP:   general  government;  nonprofit  institutions;   private
households; unincorporated business; and those corporations classified
as  offices  of  bank  holding companies,  offices  of  other  holding
companies,   or   offices  in  the  finance  and   insurance   sector.
Nonfinancial corporations accounted for about 54 percent of the  value
of GDP in 2000.

Productivity:  These productivity measures describe  the  relationship
between  real  output and the labor time involved in  its  production.
They show the changes from period to period in the amount of goods and
services  produced per hour. Although these measures relate output  to
hours  at work of all persons engaged in a sector, they do not measure
the  specific contribution of labor, capital, or any other  factor  of
production. Rather, they reflect the joint effects of many influences,
including changes in technology; capital investment; level of  output;
utilization  of  capacity, energy, and materials; the organization  of
production;  managerial skill; and the characteristics and  effort  of
the work force.
     Information  in this release will be made available  to  sensory-
impaired individuals upon request. Voice phone: 202-691-5606;  Federal
Relay            Service            number:            1-800-877-8339.


  Table 1. Business sector: Productivity, hourly compensation, unit labor costs,
  and prices, seasonally adjusted
                                                             Real
     Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
     and        hour of                of all    tion per    tion per    labor    labor pay-  price
     quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
  ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

  2003       I    r125.6     r144.6     115.2    r147.8      r115.5     r117.7      r116.4     r117.2
            II    r127.9     r146.4     114.5    r150.3      r117.3     r117.5      r117.2     r117.4
           III    r130.5     r149.8     114.8    r152.0      r118.0     r116.4      r120.3     r117.9
            IV    r130.6     r150.8     115.5    r152.8      r118.4     r117.0      r120.5     r118.3

        ANNUAL    r128.6     r147.9     115.0    r150.7      r117.3     r117.2      r118.6     r117.7

  2004       I    r131.7     r152.6     115.9    r154.4      r118.5     r117.3      r123.0     r119.4
            II    r132.8     r154.1    r116.1    r155.7      r118.2     r117.2      r126.1     r120.5
           III    r133.3     r155.8    r116.9    r158.2      r119.6     r118.7      r124.2     r120.7
            IV    r134.3     r157.2    r117.1     162.5       121.8     r121.0      r122.3     r121.5

        ANNUAL    r133.0     r154.9    r116.5    r157.7      r119.5     r118.6      r123.9     r120.6

  2005       I    r135.3     r158.9    r117.5     164.9       122.9     r121.9      r122.9     r122.3
            II     135.7      160.5     118.3     166.0       122.4      122.3       124.1      123.0
  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2003       I      r2.8       r1.7     r-1.1      r5.5         1.3       r2.6        r0.5       r1.8
            II      r7.6       r4.9      -2.6      r7.0        r6.5      r-0.6        r2.8       r0.6
           III      r8.4       r9.9       1.3      r4.5        r2.3      r-3.6       r10.7       r1.5
            IV      r0.3       r2.6      r2.3      r2.3        r1.4       r2.1        r0.9       r1.6

        ANNUAL      r3.9       r3.4      -0.5      r3.9        r1.6       r0.0        r3.7       r1.4

  2004       I      r3.4       r4.9      r1.5      r4.2        r0.3       r0.8        r8.6       r3.7
            II       3.4       r4.0      r0.6      r3.3       r-1.0      r-0.1       r10.3       r3.8
           III      r1.4       r4.4      r3.0      r6.5        r4.8       r5.0       r-5.8       r0.7
            IV      r3.1       r3.6       0.5     r11.3        r7.5       r7.9       r-6.0        2.4

        ANNUAL      r3.4       r4.8      r1.3      r4.6        r1.9       r1.2        r4.4       r2.4

  2005       I      r2.9       r4.4       1.4      r6.2        r3.7       r3.2        r2.0       r2.7
            II       1.2        4.2       3.0       2.5        -1.6        1.4         3.9        2.3
  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2003       I      r2.4       r2.0      -0.4      r3.0        r0.1       r0.6        r2.7        1.4
            II      r3.8       r2.6      -1.1       3.6         1.4      r-0.2        r3.9        1.3
           III      r4.7       r4.2      -0.5      r4.3        r2.0      r-0.4        r4.6       r1.4
            IV      r4.7       r4.7       0.0      r4.8        r2.9       r0.1        r3.7       r1.4

        ANNUAL      r3.9       r3.4      -0.5      r3.9        r1.6       r0.0        r3.7       r1.4

  2004       I      r4.9       r5.5      r0.6       4.5         2.6      r-0.4        r5.7       r1.9
            II      r3.8       r5.3      r1.4      r3.6        r0.8      r-0.2        r7.6       r2.7
           III      r2.1       r4.0      r1.8      r4.1        r1.4       r1.9        r3.3       r2.4
            IV      r2.8       r4.2      r1.4       6.3         2.8       r3.4        r1.5       r2.6

        ANNUAL      r3.4       r4.8      r1.3      r4.6        r1.9       r1.2        r4.4       r2.4

  2005       I      r2.7       r4.1       1.3      r6.8        r3.7       r4.0       r-0.1        2.4
            II       2.1        4.2       2.0       6.6         3.6        4.3        -1.6        2.0
  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2005
  r=revised                                                              Source: Bureau of Labor Statistics



  Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs,
  and prices, seasonally adjusted
                                                             Real
     Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
     and        hour of                of all    tion per    tion per    labor    labor pay-  price
     quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
  ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

  2003       I    r124.9     r144.8    r115.9    r147.0      r114.9     r117.7      r118.2     r117.9
            II    r126.9     r146.5     115.4    r149.3      r116.5     r117.6      r118.7     r118.0
           III    r129.9     r150.2     115.6    r151.2      r117.4     r116.4      r121.6     r118.3
            IV    r130.1     r151.2     116.2    r152.2      r117.9     r116.9      r121.3     r118.6

        ANNUAL    r128.0     r148.2     115.8    r149.9      r116.7     r117.1      r120.0     r118.2

  2004       I    r130.8     r152.8    r116.8    r153.5      r117.8     r117.3      r123.5     r119.6
            II    r132.2     r154.5    r116.8    r154.9      r117.6     r117.1      r126.5     r120.6
           III    r132.7     r156.3    r117.8    r157.2      r118.8     r118.5      r125.3     r121.0
            IV    r133.5     r157.7    r118.2    r161.0      r120.7     r120.7      r123.7     r121.8

        ANNUAL    r132.3     r155.3    r117.4    r156.7      r118.7     r118.4      r124.7     r120.7

  2005       I    r134.5     r159.4    r118.5    r163.8       122.0     r121.7      r124.3     r122.7
            II     135.3      161.1     119.1     165.2       121.8      122.1       125.5      123.4
  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2003       I      r3.1       r2.0     r-1.1      r5.8        r1.5       r2.6        r0.8        1.9
            II      r6.6       r4.7      -1.8      r6.2        r5.8      r-0.3        r1.7       r0.4
           III      r9.6      r10.4      r0.8      r5.1        r2.9      r-4.1       r10.2       r1.0
            IV      r0.8       r2.8      r2.0      r2.7        r1.8       r2.0       r-1.1       r0.8

        ANNUAL      r3.8       r3.3      -0.5       4.0        r1.6       r0.2        r3.2       r1.3

  2004       I      r2.1       r4.2      r2.0      r3.5       r-0.5       r1.3        r7.4       r3.6
            II      r4.5       r4.6       0.1      r3.7       r-0.7      r-0.8       r10.0       r3.2
           III      r1.3       r4.6      r3.3      r6.1        r4.4       r4.7       r-3.6       r1.5
            IV      r2.5       r3.9       1.4      10.2         6.4       r7.6       r-5.1       r2.6

        ANNUAL      r3.4       r4.8      r1.4      r4.5        r1.8       r1.1        r3.9       r2.1

  2005       I      r3.2       r4.3       1.1      r6.9        r4.5       r3.6        r2.1       r3.0
            II       2.2        4.4       2.1       3.5        -0.6        1.3         4.0        2.3
  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2003       I      r2.0       r1.7     r-0.4      r3.0        r0.1       r1.0        r2.7       r1.6
            II      r3.5       r2.5      -0.9      r3.5        r1.3       r0.1        r3.2        1.2
           III      r4.8       r4.2      -0.5      r4.4        r2.1      r-0.4        r4.1       r1.2
            IV      r5.0       r4.9      r0.0      r5.0        r3.0       r0.0        r2.8       r1.0

        ANNUAL      r3.8       r3.3      -0.5       4.0        r1.6       r0.2        r3.2       r1.3

  2004       I      r4.7       r5.5       0.7       4.4         2.5      r-0.3        r4.5       r1.5
            II      r4.2       r5.5      r1.2      r3.7        r0.9      r-0.4        r6.5       r2.1
           III      r2.2       r4.0      r1.9      r4.0        r1.2       r1.8        r3.0       r2.3
            IV      r2.6       r4.3      r1.7      r5.8         2.4       r3.2        r1.9       r2.7

        ANNUAL      r3.4       r4.8      r1.4      r4.5        r1.8       r1.1        r3.9       r2.1

  2005       I      r2.9       r4.4      r1.5      r6.7        r3.6       r3.7        r0.7       r2.6
            II       2.3        4.3       2.0       6.7         3.6        4.3        -0.7        2.3
  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2005
  r=revised                                                              Source: Bureau of Labor Statistics



  Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
  seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2003       I            151.6        131.8         86.9       r156.5         r122.3        r103.2
            II            152.9        130.7         85.5       r159.2         r124.3        r104.1
           III            156.9        132.1         84.2       r161.5         r125.4        r102.9
            IV            158.1        134.2         84.9       r163.2         r126.5        r103.2

        ANNUAL            154.8        132.2         85.4       r160.1         r124.6        r103.4

  2004       I            159.3        136.0         85.4       r159.1         r122.1         r99.9
            II            162.2        138.0         85.1       r161.1         r122.3         r99.3
           III            164.0        139.4         85.0       r164.9         r124.7        r100.6
            IV            166.5        141.0         84.7       r169.3         r126.9        r101.7

        ANNUAL            163.0        138.6         85.0       r163.6         r124.0        r100.4

  2005       I           r168.2        142.3        r84.6       r172.3         r128.4        r102.4
            II            169.9        142.7         84.0        175.0          129.1         103.0
  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2003       I              5.7         -0.9         -6.3        r17.9          r13.1         r11.5
            II              3.3         -3.4         -6.5         r6.9           r6.5          r3.5
           III             11.0          4.5         -5.9         r5.9           r3.7         r-4.5
            IV              3.2          6.6          3.3         r4.3           r3.4          r1.1

        ANNUAL              5.2          0.0         -4.9         r8.3           r5.9          r3.0

  2004       I              3.0          5.4          2.4        r-9.7         r-13.1        r-12.4
            II              7.6          5.9         -1.6         r5.1           r0.7         r-2.3
           III              4.4          4.0         -0.3         r9.8           r8.0          r5.2
            IV              6.3          4.9         -1.3        r11.2           r7.4          r4.6

        ANNUAL              5.3          4.8         -0.4         r2.2          r-0.5         r-2.9

  2005       I             r4.2          3.5        r-0.7         r7.1           r4.7          r2.8
            II              4.1          1.2         -2.8          6.6            2.3           2.3
  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2003       I              5.0          0.6         -4.2         r8.2           r5.2          r3.1
            II              4.4         -1.3         -5.4         r7.8           r5.5          r3.3
           III              5.5         -0.8         -6.0         r8.4           r6.0          r2.7
            IV              5.8          1.6         -3.9         r8.7           r6.6          r2.7

        ANNUAL              5.2          0.0         -4.9         r8.3           r5.9          r3.0

  2004       I              5.1          3.2         -1.8         r1.6          r-0.2         r-3.3
            II              6.1          5.6         -0.5         r1.2          r-1.6         r-4.7
           III              4.5          5.5          0.9         r2.1          r-0.6         r-2.3
            IV              5.3          5.1         -0.2         r3.7           r0.3         r-1.5

        ANNUAL              5.3          4.8         -0.4         r2.2          r-0.5         r-2.9

  2005       I             r5.6          4.6         -1.0         r8.3           r5.1          r2.5
            II              4.7          3.4         -1.3          8.6            5.6           3.7
  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2005
  r=revised                                                       Source: Bureau of Labor Statistics



  Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
  seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2003       I            172.7        155.7         90.1       r154.9         r121.1         r89.7
            II            174.3        154.3         88.6       r157.7         r123.1         r90.5
           III            180.9        157.6         87.1       r160.1         r124.3         r88.5
            IV            182.8        161.5         88.3       r161.9         r125.5         r88.6

        ANNUAL            177.6        157.3         88.5       r158.6         r123.5         r89.3

  2004       I            184.4        164.6         89.3       r155.5         r119.4         r84.3
            II            187.8        167.1         88.9       r158.2         r120.1         r84.2
           III            190.0        169.5         89.2       r162.1         r122.6         r85.3
            IV            193.4        172.1         89.0       r166.0         r124.4         r85.8

        ANNUAL            188.9        168.3         89.1       r160.4         r121.6         r84.9

  2005       I           r196.1       r174.3        r88.9       r169.1         r126.0         r86.2
            II            198.0        175.2         88.5        171.6          126.6          86.7
  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2003       I              5.1         -1.6         -6.4        r22.2          r17.2         r16.3
            II              3.7         -3.4         -6.9         r7.3           r6.9          r3.4
           III             16.0          8.7         -6.3         r6.2           r3.9         r-8.5
            IV              4.2         10.1          5.7         r4.7           r3.8          r0.5

        ANNUAL              6.9          1.3         -5.3         r9.3           r6.9          r2.3

  2004       I              3.6          8.1          4.3       r-14.9         r-18.1        r-17.9
            II              7.7          6.0         -1.5         r6.9           r2.5         r-0.7
           III              4.6          6.0          1.3        r10.3           r8.5          r5.5
            IV             r7.5          6.3        r-1.1         r9.9           r6.1          r2.2

        ANNUAL              6.4          7.0          0.6         r1.1          r-1.5         r-4.9

  2005       I             r5.7         r5.2        r-0.5         r7.7           r5.2          r1.9
            II              3.8          1.9         -1.8          6.3            2.0           2.4
  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2003       I              6.7          1.7         -4.7         r9.1           r6.0           2.2
            II              5.9         -0.6         -6.1         r8.7           r6.4          r2.7
           III              7.9          0.7         -6.7         r9.6           r7.3          r1.6
            IV              7.2          3.3         -3.6         r9.9           r7.8          r2.5

        ANNUAL              6.9          1.3         -5.3         r9.3           r6.9          r2.3

  2004       I              6.8          5.8         -1.0         r0.4          r-1.4         r-6.0
            II              7.8          8.3          0.4         r0.3          r-2.5         r-6.9
           III              5.0          7.6          2.4         r1.3          r-1.4         r-3.6
            IV              5.8          6.6         r0.7         r2.5          r-0.9         r-3.2

        ANNUAL              6.4          7.0          0.6         r1.1          r-1.5         r-4.9

  2005       I             r6.4         r5.9         -0.5         r8.7           r5.6          r2.2
            II              5.4          4.8         -0.5          8.5            5.4           3.0
  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2005
  r=revised                                                       Source: Bureau of Labor Statistics



  Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
  seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2003       I            130.2        106.9         82.1       r158.0         r123.5        r121.4
            II            131.1        106.0         80.9       r160.5         r125.3        r122.4
           III            132.6        105.9         79.8       r162.7         r126.3        r122.6
            IV            133.6        106.5         79.7       r163.9         r127.0        r122.7

        ANNUAL            131.8        106.3         80.6       r161.2         r125.5        r122.3

  2004       I            134.5        107.1         79.6       r164.1         r125.9        r122.0
            II            137.0        108.6         79.3       r164.7         r125.1        r120.3
           III            138.6        109.0         78.7       r168.1         r127.1        r121.2
            IV           r140.2        109.8         78.3       r173.5         r130.1        r123.8

        ANNUAL            137.6        108.6        r79.0       r167.6         r127.0        r121.8

  2005       I            141.1        110.2         78.1       r176.1         r131.2        r124.8
            II            142.8        110.3         77.2        179.1          132.1         125.4
  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2003       I              6.5          0.1         -6.0        r10.3           r5.9          r3.6
            II              2.6         -3.5         -5.9         r6.3           r5.9          r3.6
           III              4.9         -0.6         -5.2         r5.6           r3.4          r0.7
            IV              2.8          2.4         -0.4         r3.0           r2.1          r0.2

        ANNUAL              2.8         -1.5         -4.2         r6.4           r4.0          r3.5

  2004       I              2.9          2.1         -0.8         r0.5          r-3.3         r-2.4
            II              7.5          5.7         -1.7         r1.7          r-2.6         r-5.5
           III              4.8          1.7         -3.0         r8.4           r6.6          r3.4
            IV             r4.6          2.9        r-1.7        r13.7           r9.7          r8.6

        ANNUAL             r4.3          2.2         -2.1         r3.9           r1.2         r-0.4

  2005       I             r2.5         r1.5         -1.1         r6.0           r3.6          r3.4
            II              5.0          0.1         -4.6          6.9            2.6           1.8
  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2003       I              2.6         -0.9         -3.4         r6.7           r3.7          r4.0
            II              2.2         -2.2         -4.3         r6.4           r4.1          r4.1
           III              2.3         -2.6         -4.8         r6.2           r3.9          r3.9
            IV              4.2         -0.4         -4.4         r6.3           r4.3          r2.0

        ANNUAL              2.8         -1.5         -4.2         r6.4           r4.0          r3.5

  2004       I              3.3          0.1         -3.1         r3.8           r2.0          r0.5
            II              4.5          2.4         -2.0         r2.7          r-0.2         r-1.8
           III              4.5          3.0         -1.5         r3.3           r0.6         r-1.1
            IV              5.0          3.1         -1.8         r5.9           r2.4          r0.9

        ANNUAL             r4.3          2.2         -2.1         r3.9           r1.2         r-0.4

  2005       I              4.9          2.9        r-1.8         r7.3           r4.2          r2.4
            II              4.2          1.5         -2.6          8.7            5.6           4.3
  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2005
  r=revised                                                       Source: Bureau of Labor Statistics



  Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits,
  and prices, seasonally adjusted
 
                Output                      Hourly    Real                Unit     Total    Unit   Implicit
      Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
      and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
      quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
  ----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2003       I   r130.4   r152.3     116.8   r144.6    r113.0    r110.9   r111.4   r111.0   r107.8   r110.7
            II    132.7   r154.3     116.3   r147.0    r114.8    r110.8   r110.5   r110.7   r113.7    111.0
           III   r135.1   r156.9    r116.2   r148.9    r115.6    r110.2   r110.9   r110.4   r119.9   r111.3
            IV   r135.9   r158.7    r116.8    149.8    r116.0    r110.2   r110.8    110.4   r124.8    111.7

        ANNUAL   r133.5   r155.6    r116.5   r147.6    r114.8    r110.5   r110.9   r110.6   r116.7    111.2

  2004       I   r136.1   r160.0    r117.5   r150.3    r115.4    r110.4   r111.4   r110.7   r130.2   r112.4
            II   r136.9   r161.3    r117.8   r151.7    r115.2    r110.8   r111.5   r111.0   r138.6   r113.4
           III   r139.4   r165.0     118.4   r154.0    r116.5    r110.5   r110.3   r110.5   r139.7   r113.1
            IV   r142.3   r169.0     118.8   r158.0    r118.4    r111.0   r108.8   r110.5   r143.1   r113.4

        ANNUAL   r138.7   r163.8    r118.1   r153.5    r116.4    r110.7   r110.5   r110.6   r138.0    113.1

  2005       I   r143.5   r170.7     118.9   r160.8    r119.8    r112.0   r107.9   r110.9   r145.3   r114.0
  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2003       I     r1.1    r-1.8     r-2.8     r3.9     r-0.3      r2.9     r6.7     r3.9   r-11.6     r2.4
            II     r7.3     r5.5     r-1.7     r6.9      r6.4     r-0.4    r-3.1    r-1.1    r23.8     r0.9
           III     r7.3     r6.9      -0.3     r5.2      r2.9      -1.9     r1.3    r-1.1    r23.9     r1.0
            IV     r2.4     r4.5      r2.1     r2.4      r1.5      r0.0    r-0.3    r-0.1    r17.2     r1.5

        ANNUAL      4.1     r2.7     r-1.4     r3.9      r1.6     r-0.2     r0.1     -0.1    r19.0      1.4

  2004       I     r0.8      3.4      r2.6     r1.5     r-2.3      r0.7     r2.1     r1.1    r18.6     r2.7
            II     r2.3     r3.3      r1.0     r3.7     r-0.7      r1.3     r0.3     r1.1    r28.2     r3.7
           III     r7.4     r9.4       1.9     r6.3      r4.6     r-1.0    r-4.2    r-1.9     r3.4    r-1.3
            IV     r8.5     r9.9       1.3    r10.6      r6.8      r1.9    r-5.2     r0.0    r10.0     r1.1

        ANNUAL     r3.9     r5.3       1.4     r4.0      r1.3      r0.2    r-0.4     r0.0    r18.3     r1.7

  2005       I     r3.6     r4.1       0.5     r7.3      r4.8      r3.5    r-3.3     r1.7     r6.2     r2.2
  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2003       I     r3.5     r2.0     r-1.5     r3.2      r0.3     r-0.3    r-1.4    r-0.6    r25.6      1.2
            II     r3.8     r2.0     r-1.8     r3.6      r1.4     r-0.1     -0.1    r-0.1    r20.4      1.4
           III     r4.6     r3.1     r-1.5     r4.3      r2.1     r-0.3     r0.8     r0.0    r19.6     r1.6
            IV     r4.5     r3.7      -0.7     r4.6      r2.6      r0.1     r1.1     r0.4    r12.3     r1.5

        ANNUAL      4.1     r2.7     r-1.4     r3.9      r1.6     r-0.2     r0.1     -0.1    r19.0      1.4

  2004       I     r4.4     r5.1      r0.7     r4.0      r2.1     r-0.4     r0.0    r-0.3    r20.8      1.5
            II     r3.2     r4.6       1.3     r3.2      r0.3      r0.0     r0.8     r0.2    r21.9     r2.2
           III      3.2     r5.2      r1.9     r3.5      r0.7      r0.3    r-0.6     r0.0    r16.5     r1.6
            IV     r4.7     r6.5       1.7     r5.5      r2.0      r0.7    r-1.8     r0.1    r14.7     r1.5

        ANNUAL     r3.9     r5.3       1.4     r4.0      r1.3      r0.2    r-0.4     r0.0    r18.3     r1.7

  2005       I     r5.4     r6.7       1.2     r6.9      r3.8      r1.4    r-3.1     r0.2    r11.6     r1.4
  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        August 9, 2005
  r=revised                                                               Source: Bureau of Labor Statistics
  



                                      
SOURCES:  Output data are from the Bureau of Economic Analysis and the Census
Bureau of the U.S. Department of Commerce; the Bureau of Labor Statistics,
U.S. Department of Labor; and the Federal Reserve Board.  Compensation and
hours data are from the Bureau of Labor Statistics and the Bureau of Economic
Analysis.

RELIABILITY:  Productivity and cost measures are regularly revised as more
complete information becomes available.  The measures are first published
within 40 days of the close of the reference period; revisions appear 30 days
later, and second revisions after an additional 60 days.  In the business
sector, the third publication (second revision) of a quarterly index of
output per hour of all persons has differed from the initial value by between
-1.4 and +1.4 index points approximately 95 percent of the time.  This
interval is based on the performance of this measure between the fourth
quarter of 1995 and the first quarter of 2005.
                                      
                                      
                                      
                            Footnotes, Tables 1-6

(1)  Wages and salaries of employees plus employers' contributions for social
     insurance and private benefit plans.  Except for nonfinancial
     corporations, where there are no self-employed, data also include an
     estimate of wages, salaries, and supplemental payments for the self-
     employed.

(2)  The change for recent quarters is based on the Consumer Price Index for
     all urban consumers (CPI-U).  The trend from 1978-2004 is based on the
     Consumer Price Index research series (CPI-U-RS).

(3)  Unit nonlabor payments include profits, consumption of fixed capital,
     taxes on production and imports less subsidies, net interest and
     miscellaneous payments, business current transfer payments, rental
     income of persons, and the current surplus of government enterprises.

(4)  Current dollar output divided by the output index.

(5)  Quarterly changes:  Percent change compounded at annual rate from the
     original data rather than index numbers.  Annual changes:  Percent
     change between annual average levels.

(6)  Unit nonlabor costs include consumption of fixed capital, taxes on
     production and imports less subsidies, net interest and miscellaneous
     payments, and business current transfer payments.

(7)  Total unit costs are the sum of unit labor and nonlabor costs.

(8)  Unit profits include corporate profits before tax with inventory
     valuation and capital consumption adjustments.

 Appendix table 1. Business sector: Revised productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted
                                                             Real
     Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
     and        hour of                of all    tion per    tion per    labor    labor pay-  price
     quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
  ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

  2000       I    114.2      138.6     121.4     132.5       111.5      116.0       105.4      112.1
            II    116.4      141.1     121.2     133.1       111.1      114.4       109.6      112.6
           III    116.1      140.8     121.3     135.6       112.2      116.8       106.4      112.9
            IV    117.3      141.5     120.6     136.5       112.2      116.4       108.2      113.3

        ANNUAL    116.1      140.5     121.0     134.5       111.9      115.9       107.4      112.7

  2001       I    117.2      141.1     120.4     138.8       113.0      118.5       106.7      114.1
            II    118.8      141.4     119.1     139.9       113.0      117.8       110.1      114.9
           III    119.2      140.3     117.7     140.5       113.3      117.9       110.6      115.2
            IV    121.1      141.0     116.4     141.5       114.2      116.9       113.4      115.6

        ANNUAL    119.0      141.0     118.4     140.2       113.4     r117.7       110.2      114.9

  2002       I   r122.7     r141.9     115.7    r143.5      r115.4     r116.9      r113.3     r115.6
            II   r123.2     r142.6     115.7    r145.0      r115.7     r117.7      r112.9      115.9
           III   r124.6     r143.8     115.4    r145.7      r115.7     r116.9      r115.0     r116.2
            IV   r124.7     r144.0     115.5    r145.8      r115.1     r116.9      r116.3     r116.7

        ANNUAL   r123.8     r143.1     115.6    r145.0      r115.4     r117.1      r114.4     r116.1

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2000       I     -1.8        0.3       2.2      14.1         9.9       16.2       -16.0        3.4
            II      7.9        7.5      -0.4       1.8        -1.3       -5.6        16.6        1.8
           III     -1.0       -0.8       0.2       7.8         4.0        8.9       -11.0        1.3
            IV      4.4        2.0     r-2.2       2.8        -0.1       -1.5         6.8        1.4

        ANNUAL      2.8        3.9       1.1       7.0         3.5        4.0        -1.9        1.8

  2001       I     -0.5       -1.1      -0.6       6.9         3.0        7.4        -5.6        2.7
            II      5.5        0.8      -4.4       3.0        -0.2       -2.4        13.5        3.0
           III      1.4       -3.1      -4.4       2.0         1.1        0.6         1.8        1.0
            IV      6.6        1.8      -4.5       2.8         3.4       -3.6        10.4        1.3

        ANNUAL      2.5        0.3      -2.2       4.2         1.4        1.6         2.6        2.0

  2002       I     r5.3       r2.6      -2.5      r5.6        r4.1       r0.3       r-0.1       r0.2
            II      1.8        2.1       0.3      r4.4        r1.1       r2.6       r-1.7       r1.0
           III     r4.8       r3.6      -1.1      r2.0       r-0.1      r-2.6        r7.7       r1.0
            IV     r0.1       r0.5      r0.3      r0.1       r-1.9       r0.0        r4.7       r1.7

        ANNUAL     r4.0       r1.5      -2.4      r3.4        r1.8      r-0.5        r3.8       r1.0

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2000       I      2.0        4.5       2.4       6.5         3.2        4.4        -3.2        1.6
            II      3.8        5.4       1.5       6.7         3.3        2.8         0.3        1.9
           III      2.9        3.8       0.9       7.8         4.2        4.8        -3.1        1.9
            IV      2.3        2.2      -0.1       6.5         3.0        4.1        -1.7        2.0

        ANNUAL      2.8        3.9       1.1       7.0         3.5        4.0        -1.9        1.8

  2001       I      2.6        1.8      -0.8       4.8         1.3        2.1         1.2        1.8
            II      2.1        0.2      -1.8       5.1         1.6        3.0         0.5        2.1
           III      2.7       -0.4      -2.9       3.6         0.9        0.9         3.9        2.0
            IV      3.2       -0.4      -3.5       3.6         1.8        0.4         4.8        2.0

        ANNUAL      2.5        0.3      -2.2       4.2         1.4        1.6         2.6        2.0

  2002       I     r4.7       r0.5      -4.0      r3.3        r2.1      r-1.3        r6.3       r1.3
            II     r3.7       r0.8      -2.8      r3.7        r2.4       r0.0        r2.5        0.9
           III     r4.6       r2.5      -2.0      r3.7        r2.1      r-0.8        r4.0       r0.9
            IV     r3.0       r2.2      -0.8      r3.0        r0.8       r0.1        r2.6       r1.0

        ANNUAL     r4.0       r1.5      -2.4      r3.4        r1.8      r-0.5        r3.8       r1.0

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2005
  r=revised                                                              Source: Bureau of Labor Statistics



 Appendix table 2.  Nonfarm business sector: Revised productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted
                                                             Real
     Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
     and        hour of                of all    tion per    tion per    labor    labor pay-  price
     quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
  ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

  2000       I    113.9      138.8     121.9     132.1       111.2      116.0       106.8      112.6
            II    115.9      141.4     122.0     132.5       110.6      114.3       111.1      113.1
           III    115.6      141.1     122.0     135.0       111.7      116.8       108.0      113.5
            IV   r116.7      141.8     121.5     135.8       111.6      116.3       109.8      113.9

        ANNUAL    115.6      140.8     121.8     134.0       111.4      115.9       108.9      113.3

  2001       I    116.6      141.4     121.3     138.0       112.3      118.4       108.2      114.6
            II    118.2      141.9     120.0     138.9       112.2      117.5       111.9      115.4
           III    118.7      140.8     118.7     139.5       112.5      117.6       112.2      115.6
            IV    120.5      141.2     117.2     140.6       113.5      116.7       115.0      116.0

        ANNUAL    118.5      141.3     119.3     139.3       112.6      117.5       111.8      115.4

  2002       I   r122.5     r142.5     116.3    r142.7      r114.8     r116.5      r115.2      116.0
            II   r122.7     r143.0     116.5    r144.2      r115.0     r117.5      r115.0     r116.6
           III   r123.9     r144.1     116.3    r144.8      r114.9     r116.9      r116.9     r116.9
            IV   r124.0     r144.1    r116.2    r145.0      r114.5     r116.9      r118.0     r117.3

        ANNUAL   r123.3     r143.4     116.3    r144.2      r114.8     r117.0      r116.3     r116.7

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2000       I     -2.0       -0.1       1.9      14.5        10.3       16.9       -17.2        3.3
            II     r7.2        7.5       0.2       1.1        -2.0       -5.8        17.0        1.8
           III     -0.9       -0.8       0.0       8.0         4.1        8.9       -10.9        1.4
            IV      4.0        2.2      -1.7       2.3        -0.6       -1.6         6.9        1.3

        ANNUAL      2.7        3.8       1.1       7.0         3.6        4.2        -2.0        1.9

  2001       I     -0.4       -1.1      -0.7      r6.8         2.8        7.2        -5.5        2.6
            II     r5.6        1.2      -4.2       2.5        -0.6       -3.0        14.1        2.7
           III     r1.5       -2.9      -4.3       1.8         1.0        0.4         1.3        0.7
            IV      6.5        1.2      -5.0       3.2         3.8       -3.1        10.2        1.5

        ANNUAL      2.5        0.4      -2.0       4.0         1.1        1.4         2.7        1.9

  2002       I     r6.5       r3.5      -2.8      r6.1        r4.5      r-0.4        r0.7       r0.0
            II     r0.8       r1.4       0.6      r4.2        r0.9       r3.4       r-0.5       r2.0
           III     r4.1       r3.1      -0.9      r1.8       r-0.3      r-2.2        r6.5       r0.9
            IV     r0.2       r0.1       0.0      r0.4       r-1.6       r0.2        r3.9       r1.6

        ANNUAL     r4.0       r1.5      -2.5      r3.5        r1.9      r-0.5        r4.0       r1.1

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2000       I      2.0        4.4       2.3       6.8         3.5        4.7        -2.9        1.9
            II      3.7        5.3       1.5       6.8         3.4        2.9         0.3        2.0
           III      2.8        3.6       0.8       7.9         4.3        5.0        -3.2        2.0
            IV      2.0        2.1       0.1       6.3         2.8        4.2        -2.0        2.0

        ANNUAL      2.7        3.8       1.1       7.0         3.6        4.2        -2.0        1.9

  2001       I      2.4        1.9      -0.5       4.5         1.0        2.0         1.3        1.8
            II      2.0        0.4      -1.7       4.9         1.4        2.8         0.7        2.0
           III      2.6       -0.2      -2.7       3.3         0.6        0.7         3.9        1.8
            IV      3.2       -0.4      -3.6       3.6         1.7        0.3         4.7        1.9

        ANNUAL      2.5        0.4      -2.0       4.0         1.1        1.4         2.7        1.9

  2002       I     r5.0       r0.7      -4.1      r3.4        r2.2      r-1.5        r6.4        1.2
            II     r3.8       r0.8      -2.9      r3.8        r2.5       r0.0        r2.8       r1.0
           III     r4.4       r2.3      -2.0      r3.8        r2.2      r-0.6        r4.1       r1.1
            IV     r2.9       r2.0      -0.8      r3.1        r0.9       r0.2        r2.6       r1.1

        ANNUAL     r4.0       r1.5      -2.5      r3.5        r1.9      r-0.5        r4.0       r1.1

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2005
  r=revised                                                              Source: Bureau of Labor Statistics



 Appendix table 3.  Manufacturing sector: Revised productivity, hourly compensation, and unit labor costs,
  seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2000       I          132.6         138.1        104.1        133.2          112.1         100.5
            II          134.4         140.0        104.1        132.5          110.7          98.6
           III          134.0         139.0        103.8        135.9          112.4         101.4
            IV          134.9         137.5        102.0        136.7          112.3         101.4

        ANNUAL          134.1         138.6        103.4        134.7          112.0         100.5

  2001       I          134.6         134.9        100.2        138.1          112.4         102.7
            II          135.8         133.1         98.0        137.3          110.9         101.1
           III          137.0         131.3         95.8        137.0          110.4         100.0
            IV          140.6         130.0         92.5        139.0          112.2          98.8

        ANNUAL          136.9         132.3         96.6        137.8          111.5         100.7

  2002       I          144.4         131.1         90.8       r144.7         r116.3        r100.2
            II          146.5         132.4         90.4       r147.6         r117.7        r100.8
           III          148.7         133.2         89.6       r149.0         r118.3        r100.2
            IV          149.5         132.1         88.4       r150.2         r118.6        r100.5

        ANNUAL          147.3         132.2         89.8       r147.9         r117.7        r100.4

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I            5.6           3.7         -1.9         21.8           17.3          15.3
            II            5.6           5.6          0.0         -2.1           -5.1          -7.3
           III           -1.4          -2.8         -1.4         10.6            6.6          12.1
            IV            2.8          -4.1         -6.7          2.4           -0.4          -0.3

        ANNUAL            4.7           3.0         -1.6          9.2            5.6           4.2

  2001       I           -0.9          -7.6         -6.7          4.3            0.4           5.2
            II            3.8          -5.0         -8.5         -2.4           -5.4          -5.9
           III            3.5          -5.5         -8.6         -0.9           -1.7          -4.2
            IV           11.1          -3.7        -13.3          5.9            6.5          -4.6

        ANNUAL            2.1          -4.6         -6.5          2.3           -0.5           0.2

  2002       I           11.2           3.2         -7.2        r17.4          r15.7          r5.5
            II            5.8           4.1         -1.6         r8.4            5.0          r2.5
           III            6.3           2.4         -3.7         r4.0           r1.8         r-2.2
            IV            2.2          -3.2         -5.3         r3.2           r1.1          r1.0

        ANNUAL            7.5          -0.1         -7.1         r7.3           r5.6         r-0.3

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            4.7           3.8         -0.8          9.8            6.4           4.9
            II            5.6           4.6         -0.9          8.5            5.1           2.8
           III            5.1           3.3         -1.7         10.0            6.4           4.7
            IV            3.1           0.5         -2.5          7.8            4.2           4.6

        ANNUAL            4.7           3.0         -1.6          9.2            5.6           4.2

  2001       I            1.5          -2.3         -3.7          3.7            0.3           2.2
            II            1.0          -4.9         -5.9          3.6            0.2           2.5
           III            2.3          -5.5         -7.6          0.8           -1.8          -1.4
            IV            4.3          -5.5         -9.3          1.7           -0.1          -2.5

        ANNUAL            2.1          -4.6         -6.5          2.3           -0.5           0.2

  2002       I            7.3          -2.8         -9.4         r4.7           r3.5         r-2.4
            II            7.8          -0.5         -7.8         r7.5           r6.2         r-0.3
           III            8.6           1.5         -6.6         r8.8           r7.1          r0.2
            IV            6.3           1.6         -4.5         r8.1           r5.7          r1.7

        ANNUAL            7.5          -0.1         -7.1         r7.3           r5.6         r-0.3

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2005
  r=revised                                                       Source: Bureau of Labor Statistics



 Appendix table 4. Durable manufacturing sector: Revised productivity, hourly compensation, and
   unit labor costs seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2000       I          149.6         164.9        110.2        133.4          112.3          89.2
            II          151.4         167.5        110.7        131.9          110.1          87.1
           III          151.0         166.4        110.2        135.7          112.3          89.9
            IV          151.0         164.1        108.6        135.4          111.3          89.7

        ANNUAL          150.9         165.7        109.8        134.2          111.6          89.0

  2001       I          150.3         160.1        106.5        136.4          111.0          90.7
            II          151.7         157.6        103.9        135.8          109.6          89.5
           III          153.4         154.4        100.7        135.6          109.3          88.4
            IV          156.8         151.5         96.6        137.9          111.3          87.9

        ANNUAL          153.0         155.9        101.9        136.4          110.3          89.2

  2002       I          161.8         153.1         94.6       r142.0         r114.2         r87.8
            II          164.6         155.3         94.3       r145.0         r115.7         r88.1
           III          167.7         156.6         93.4       r146.0         r115.9         r87.1
            IV          170.6         156.3         91.6       r147.4         r116.4         r86.4

        ANNUAL          166.1         155.3         93.5       r145.1         r115.5         r87.3

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I            9.8           7.9         -1.7         25.0           20.3          13.9
            II            4.9           6.6          1.6         -4.5           -7.5          -9.0
           III           -1.1          -2.6         -1.6         12.1            8.1          13.3
            IV            0.2          -5.4         -5.6         -0.7           -3.5          -0.9

        ANNUAL            5.3           4.6         -0.7          9.7            6.1           4.2

  2001       I           -2.0          -9.5         -7.6          2.7           -1.1           4.8
            II            3.7          -6.1         -9.4         -1.7           -4.7          -5.2
           III            4.6          -7.7        -11.8         -0.6           -1.4          -5.0
            IV            9.2          -7.3        -15.2          7.1            7.7          -2.0

        ANNUAL            1.4          -5.9         -7.2          1.6           -1.2           0.2

  2002       I           13.3           4.1         -8.1        r12.4          r10.7         r-0.9
            II            7.1           6.0         -1.0         r8.9           r5.4          r1.7
           III            7.7           3.3         -4.0         r2.8           r0.7         r-4.6
            IV            7.1          -0.7         -7.2         r3.7           r1.6         r-3.1

        ANNUAL            8.6          -0.4         -8.3         r6.4           r4.7         r-2.1

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            5.9           6.0          0.2         11.2            7.7           5.0
            II            5.9           6.5          0.6          8.9            5.5           2.8
           III            5.6           4.4         -1.2         10.9            7.2           4.9
            IV            3.4           1.5         -1.8          7.4            3.8           3.9

        ANNUAL            5.3           4.6         -0.7          9.7            6.1           4.2

  2001       I            0.5          -2.9         -3.4          2.2           -1.1           1.7
            II            0.2          -5.9         -6.1          3.0           -0.4           2.8
           III            1.6          -7.2         -8.7         -0.1           -2.7          -1.7
            IV            3.8          -7.7        -11.1          1.8            0.0          -1.9

        ANNUAL            1.4          -5.9         -7.2          1.6           -1.2           0.2

  2002       I            7.7          -4.4        -11.2         r4.1           r2.9         r-3.3
            II            8.5          -1.5         -9.2         r6.8           r5.5         r-1.6
           III            9.3           1.4         -7.2         r7.7           r6.1         r-1.5
            IV            8.8           3.2         -5.1         r6.9           r4.5         r-1.7

        ANNUAL            8.6          -0.4         -8.3         r6.4           r4.7         r-2.1

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2005
  r=revised                                                       Source: Bureau of Labor Statistics



 Appendix table 5. Nondurable manufacturing sector: Revised productivity, hourly compensation, and
   unit labor costs seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2000       I          116.7         110.9         95.0        130.5          109.8         111.8
            II          118.7         112.0         94.4        131.4          109.7         110.7
           III          118.0         111.1         94.1        133.7          110.7         113.3
            IV          119.9         110.4         92.0        136.6          112.2         113.9

        ANNUAL          118.5         111.1         93.7        133.2          110.8         112.4

  2001       I          119.9         108.9         90.8        139.2          113.3         116.1
            II          120.8         107.8         89.2        138.0          111.5         114.3
           III          120.9         107.1         88.6        137.8          111.1         114.0
            IV          124.4         107.3         86.3        139.3          112.4         111.9

        ANNUAL          121.5         107.8         88.7        138.6          112.1         114.1

  2002       I          126.9         107.9         85.0       r148.1         r119.1        r116.7
            II          128.3         108.4         84.5       r150.8         r120.3        r117.6
           III          129.7         108.7         83.8       r153.1         r121.5        r118.1
            IV          128.2         106.9         83.4       r154.2         r121.7        r120.3

        ANNUAL          128.2         108.0         84.2       r151.5         r120.6        r118.2

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I           -0.1          -2.3         -2.2         15.4           11.1          15.5
            II            6.8           3.9         -2.8          2.7           -0.4          -3.8
           III           -2.3          -3.2         -1.0          7.4            3.5           9.8
            IV            6.6          -2.5         -8.5          8.9            5.9           2.2

        ANNUAL            4.0           0.7         -3.2          7.8            4.3           3.6

  2001       I           -0.2          -5.3         -5.1          7.8            3.8           8.0
            II            3.2          -3.8         -6.8         -3.4           -6.3          -6.3
           III            0.3          -2.6         -2.9         -0.6           -1.4          -0.9
            IV           12.2           0.8        -10.1          4.3            4.9          -7.1

        ANNUAL            2.5          -3.0         -5.3          4.0            1.2           1.5

  2002       I            8.2           2.2         -5.5        r28.0          r26.2         r18.3
            II            4.4           1.8         -2.4          7.4            4.0           2.9
           III            4.5           1.1         -3.2         r6.3           r4.1          r1.8
            IV           -4.5          -6.4         -2.0         r2.8           r0.7          r7.6

        ANNUAL            5.6           0.2         -5.1         r9.4           r7.6          r3.6

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            3.4           0.8         -2.5          6.7            3.4           3.2
            II            5.3           1.7         -3.5          7.3            3.9           1.8
           III            4.2           1.5         -2.6          8.2            4.6           3.8
            IV            2.7          -1.1         -3.7          8.5            4.9           5.7

        ANNUAL            4.0           0.7         -3.2          7.8            4.3           3.6

  2001       I            2.7          -1.9         -4.4          6.7            3.2           3.9
            II            1.8          -3.7         -5.4          5.1            1.6           3.2
           III            2.4          -3.6         -5.9          3.1            0.4           0.6
            IV            3.8          -2.7         -6.3          1.9            0.1          -1.8

        ANNUAL            2.5          -3.0         -5.3          4.0            1.2           1.5

  2002       I            5.9          -0.9         -6.4         r6.4           r5.1          r0.5
            II            6.2           0.6         -5.3         r9.3           r7.9          r2.9
           III            7.3           1.5         -5.4        r11.1           r9.4          r3.6
            IV            3.0          -0.4         -3.3        r10.7           r8.3           7.4

        ANNUAL            5.6           0.2         -5.1         r9.4           r7.6          r3.6

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2005
  r=revised                                                       Source: Bureau of Labor Statistics



Appendix table 6. Nonfinancial corporations:  Revised productivity, hourly compensation, unit labor costs,
   unit profits, and prices, seasonally adjusted
 
                Output                      Hourly    Real                Unit     Total    Unit   Implicit
      Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
      and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
      quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
  ----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2000      I    120.5    150.3     124.7    129.7     109.2     107.7    101.9    106.1    114.6    106.9
           II   r121.1    151.1    r124.8    130.5    r108.9     107.7    103.5    106.6    115.9    107.4
          III   r121.9    152.4    r125.0    132.9     110.0     109.0    104.8    107.9    107.4    107.8
           IV    122.2    152.3     124.7    134.4     110.4     110.0    106.5    109.1     97.0    108.0

       ANNUAL    121.5    151.5     124.7    132.0     109.7     108.6    104.2    107.4    108.7    107.5

  2001      I    122.6    151.9     123.9    135.5     110.3     110.5    109.2    110.2     87.4    108.1
           II    123.5    151.1    r122.4    136.8     110.5     110.8    111.6    111.0     86.9    108.9
          III    123.7    149.4     120.8    137.9    r111.1     111.5    114.1    112.2     79.0    109.2
           IV   r124.4    148.2     119.1    139.3    r112.4     111.9    115.7    113.0     75.5    109.6

       ANNUAL   r123.5    150.2    r121.6   r137.3     111.1     111.2    112.6    111.6     82.2    108.9

  2002      I   r126.0   r149.3     118.5   r140.1    r112.7    r111.2   r113.0   r111.7    r85.8   r109.4
           II   r127.9   r151.4     118.4   r141.8    r113.1    r110.9   r110.7   r110.9     94.5   r109.4
          III   r129.1    152.2     117.9   r142.7    r113.3    r110.6   r110.0   r110.4   r100.3    109.5
           IV   r130.1   r153.0     117.6   r143.2    r113.1    r110.1   r109.6   r110.0   r111.2    110.1

       ANNUAL   r128.2   r151.5     118.1   r142.0    r113.0    r110.7   r110.8   r110.7    r98.0    109.6

  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2000      I      7.1      9.5       2.2     15.2      10.9       7.6      1.4      5.9    -25.5      2.3
           II     r2.1      2.3       0.1      2.3      -0.8       0.1      6.6      1.8      4.7      2.1
          III      2.7      3.4       0.7      7.7       3.8       4.9      5.0      4.9    -26.2      1.5
           IV      0.7     -0.2      -0.9      4.5      r1.5       3.7      6.7      4.5    -33.4      0.6

       ANNUAL      3.6      5.2       1.6      6.8      r3.3       3.1      3.8      3.3    -15.8      1.2

  2001      I      1.4     -1.1      -2.4      3.4     r-0.5       1.9     10.5      4.1    -34.1      0.6
           II      3.0     -2.2      -5.0      3.9       0.7       0.9      9.2      3.1     -2.5      2.7
          III      0.6     -4.4      -5.0      3.2       2.4       2.6      8.9      4.3    -31.8      1.3
           IV      2.5     -3.0      -5.4      4.2       4.8       1.6      5.9      2.8    -16.3      1.4

       ANNUAL      1.7     -0.9      -2.5      4.1      r1.2       2.4      8.1      3.9    -24.3      1.3

  2002      I     r5.1     r2.9      -2.0     r2.3      r0.8     r-2.6    r-9.0    r-4.4    r66.7    r-0.8
           II     r6.1     r5.6      -0.5     r5.1      r1.7     r-1.0    r-7.9    r-2.9    r46.9     r0.1
          III     r3.9     r2.3     r-1.5     r2.6      r0.5     r-1.2    r-2.4    r-1.5    r27.0     r0.5
           IV     r3.2     r2.0     r-1.2     r1.3     r-0.7     r-1.8    r-1.5    r-1.7    r51.0     r2.0

       ANNUAL     r3.8     r0.9      -2.8     r3.4      r1.8     r-0.4    r-1.6    r-0.7    r19.2      0.6

  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2000      I      3.4      6.1       2.7      5.8       2.5       2.3      2.8      2.4    -14.1      0.6
           II     r3.4      5.5       2.0      6.2      r2.8       2.7      3.8      3.0    -13.2      1.1
          III      4.1      5.6       1.4      7.6       4.0       3.3      3.8      3.5    -14.9      1.5
           IV      3.1      3.7       0.5      7.3       3.8       4.0      4.9      4.3    -21.3      1.6

       ANNUAL      3.6      5.2       1.6      6.8      r3.3       3.1      3.8      3.3    -15.8      1.2

  2001      I     r1.7      1.1      -0.6      4.4       1.0       2.6      7.2      3.8    -23.7      1.2
           II     r1.9      0.0      -1.9     r4.8       1.4       2.8      7.8      4.1    -25.0      1.3
          III      1.4     -2.0      -3.3      3.7       1.0       2.3      8.8      4.0    -26.5      1.3
           IV      1.9     -2.7      -4.5      3.7       1.8       1.8      8.6      3.6    -22.2      1.5

       ANNUAL      1.7     -0.9      -2.5      4.1      r1.2       2.4      8.1      3.9    -24.3      1.3

  2002      I     r2.8    r-1.7      -4.4     r3.4      r2.2      r0.6     r3.5     r1.4    r-1.9     r1.1
           II     r3.5     r0.2      -3.2     r3.7      r2.4      r0.1    r-0.9    r-0.1     r8.7     r0.5
          III     r4.4      1.9     r-2.4     r3.5      r1.9     r-0.8    r-3.5    r-1.6    r27.0      0.3
           IV     r4.5     r3.2     r-1.3     r2.8      r0.6     r-1.7    r-5.2    r-2.6    r47.2     r0.4

       ANNUAL     r3.8     r0.9      -2.8     r3.4      r1.8     r-0.4    r-1.6    r-0.7    r19.2      0.6

  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        August 9, 2005
  r=revised                                                               Source: Bureau of Labor Statistics