USDL 06-159
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 8:30 A.M. EST,
THURSDAY, FEBRUARY 2, 2006

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 Fourth Quarter and
                          Annual Averages for 2005
                                      
                                      
     The Bureau of Labor Statistics of the U.S. Department of Labor today
reported preliminary productivity data--as measured by output per hour of all
persons--for the fourth quarter and for the full year 2005.  The seasonally
adjusted annual rates of productivity change in the fourth quarter and the
annual average changes were:

                                    Fourth       Annual averages
                                   quarter         2004-2005
     Business sector                 -0.2             2.6
     Nonfarm business sector         -0.6             2.7
     
     In the fourth quarter, productivity declined 0.2 percent in the business
sector and 0.6 percent in the nonfarm business sector.  In both sectors, the
fourth-quarter productivity decline was the first since the first quarter of
2001.  When the annual averages for 2005 were compared with annual averages
for 2004, productivity rose 2.6 percent in the business sector and 2.7
percent in nonfarm businesses.

     In the manufacturing sector, increases in productivity were:

                                       Fourth    Annual averages
                                       quarter     2004-2005
     Manufacturing sector                 3.9         4.8
       Durable goods manufacturing        8.2         6.6
       Nondurable goods manufacturing    -1.0         2.9
     
     Manufacturing productivity grew 3.9 percent in the fourth quarter.  On
an annual average basis, output per hour in the manufacturing sector posted a
4.8-percent increase in 2005.  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. Fourth-quarter productivity and related measures are
summarized in table A, and annual average data in table B.  Detailed
information is presented in tables 1 through 5.


--------------------------------------------------------------------------
Table A. Productivity and costs:  Preliminary fourth-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           -0.2       1.0      1.2     3.2        0.0       3.4
Nonfarm business   -0.6       0.9      1.5     2.8       -0.4       3.5
Manufacturing       3.9       8.4      4.4     1.9       -1.3      -1.9
  Durable           8.2      13.7      5.1     1.2       -1.9      -6.4
  Nondurable       -1.0       2.1      3.2     2.9       -0.3       4.0
--------------------------------------------------------------------------  
                      Percent change from same quarter a year ago
                      
Business            2.2       3.5      1.3     3.1       -0.6       0.9
Nonfarm business    2.3       3.6      1.2     3.3       -0.4       1.0
Manufacturing       4.1       4.1      0.0     4.1        0.4       0.0
  Durable           6.6       7.4      0.8     3.6       -0.1      -2.8
  Nondurable        1.3      -0.1     -1.4     4.8        1.1       3.4
--------------------------------------------------------------------------  
                                      
                                      
     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 (page 8).


                    THIRD-TO-FOURTH QUARTER CHANGES, 2005
                                      
Business

     Productivity in the business sector decreased by 0.2 percent in the
fourth quarter of 2005, reflecting increases of 1.0 percent in output and 1.2
percent in hours of all persons (seasonally adjusted annual rates).  Output
per hour had increased 5.2 percent in the third quarter of 2005, as output
increased 4.8 percent and hours decreased 0.4 percent. The fourth-quarter
decline in business sector productivity was the first since the first quarter
of 2001, when it fell 0.5 percent.

     Hourly compensation grew 3.2 percent in the fourth quarter of 2005, down
from a 4.6-percent increase one quarter earlier. This measure includes wages
and salaries, supplements, employer contributions to employee-benefit plans,
and taxes.  Real hourly compensation, which takes into account changes in
consumer prices, was unchanged in the fourth quarter of 2005, after declining
0.5 percent in the third quarter and 4.0 percent in the second quarter.

     Unit labor costs, which relate hourly compensation to output per hour,
increased 3.4 percent in the fourth quarter.  Business sector unit labor
costs had declined in the two previous quarters; 0.6 percent in the third
quarter and 0.9 percent in the second quarter.

Nonfarm business

     In the nonfarm business sector, productivity decreased 0.6 percent in
the fourth quarter of 2005, as output grew 0.9 percent and hours of all
persons grew 1.5 percent (seasonally adjusted annual rates).    Productivity
had increased 4.5 percent in the third quarter of 2005, reflecting a 4.7-
percent rise in output and a 0.1-percent rise in hours of all persons (table
2).  The fourth-quarter 0.6-percent decrease in productivity was the first
since the first quarter of 2001 (-0.4 percent), and the largest since the
third quarter of 2000 (-0.9 percent).

     Hourly compensation in the nonfarm business sector rose 2.8 percent in
the fourth quarter of 2005, following a 4.1-percent increase in the third
quarter.  When changes in consumer prices were taken into account, real
hourly compensation declined 0.4 percent during the fourth quarter of 2005.
This was the third consecutive decrease in this measure--real compensation
per hour declined 1.0 percent in the third quarter and 3.1 percent in the
second quarter of 2005.

     Unit labor costs increased 3.5 percent in the fourth quarter of 2005,
after falling 0.5 percent in the third quarter and 1.2 percent in the second
quarter.  The implicit price deflator for nonfarm business output increased
3.2 percent in the fourth quarter, after increasing 3.5 percent one quarter
earlier.

Manufacturing

     Manufacturing productivity grew 3.9 percent (seasonally adjusted annual
rate) in the fourth quarter of 2005 as output increased 8.4 percent and hours
increased 4.4 percent (table 3).      The output increase was the largest
since the fourth quarter of 1997 (9.3 percent) and the hours increase was the
first since the first quarter of 2004, when hours increased 2.4 percent.  In
the third quarter, manufacturing productivity had increased 3.7 percent,
reflecting a 2.6-percent rise in output and a 1.0-percent decline in hours.
In durable goods manufacturing, productivity rose 8.2 percent in the fourth
quarter as output grew 13.7 percent and hours increased 5.1 percent (table
4).  Among nondurable goods manufacturers, productivity decreased 1.0 percent
in the fourth quarter as output rose 2.1 percent and hours at work increased
3.2 percent (table 5).

     Average hourly compensation of manufacturing workers increased 1.9
percent in the fourth quarter of 2005, reflecting increases in hourly
compensation of 1.2 percent in durable goods manufacturing and 2.9 percent in
nondurable goods manufacturing.  When the increase in consumer prices was
taken into account, real hourly compensation in total manufacturing fell 1.3
percent.

     Unit labor costs for the manufacturing sector fell 1.9 percent in fourth-
quarter 2005.  In durable goods manufacturing, unit labor costs fell 6.4
percent, and in nondurable goods manufacturing unit labor costs increased 4.0
percent.


                      ANNUAL AVERAGE CHANGES, 2004-2005
                                      
Business

     Business sector productivity increased 2.6 percent when the annual
average for 2005 was compared with the annual average for 2004 (table B).
Output increased 4.0 percent and hours of all persons engaged in the sector
rose 1.3 percent. The 2.6-percent increase followed a 2002-2004 period with
above-average annual productivity growth of 3.8 percent, and is more in-line
with the productivity trend from 1995 to 2001, 2.7 percent.

-------------------------------------------------------------------------------
Table B. Annual average changes in productivity and related measures, 1996-2005
-------------------------------------------------------------------------------
        Measure      1996  1997  1998  1999  2000  2001  2002  2003  2004  2005
-------------------------------------------------------------------------------                                                             
 Business:                                                                 
  Productivity        3.0   1.9   2.8   3.0   2.8   2.5   4.0   3.9   3.4   2.6
  Output              4.6   5.3   4.8   5.1   3.9   0.3   1.5   3.4   4.8   4.0
  Hours               1.6   3.3   2.0   2.1   1.1  -2.2  -2.4  -0.5   1.3   1.3
  Hourly compensation 3.5   3.2   6.1   4.8   7.0   4.2   3.4   3.9   4.6   5.1
  Real hourly                                                              
    compensation      0.8   1.1   4.6   2.7   3.5   1.4   1.8   1.6   1.9   1.7
  Unit labor costs    0.5   1.3   3.2   1.8   4.0   1.6  -0.5   0.0   1.2   2.5
-------------------------------------------------------------------------------  
 Nonfarm Business:                                                         
  Productivity        2.7   1.6   2.8   2.8   2.7   2.5   4.0   3.8   3.4   2.7
  Output              4.5   5.2   5.0   5.2   3.8   0.4   1.5   3.3   4.8   4.1
  Hours               1.8   3.5   2.1   2.3   1.1  -2.0  -2.5  -0.5   1.4   1.4
  Hourly compensation 3.4   3.1   6.0   4.6   7.0   4.0   3.5   4.0   4.5   5.2
  Real hourly                                                              
    compensation      0.7   0.9   4.5   2.5   3.6   1.1   1.9   1.6   1.8   1.8
  Unit labor costs    0.7   1.4   3.1   1.8   4.2   1.4  -0.5   0.2   1.1   2.4
-------------------------------------------------------------------------------  
 Manufacturing:                                                            
  Productivity        3.6   3.6   4.9   3.6   4.8   2.0   6.6   5.6   5.4   4.8
  Output              3.2   5.5   4.6   3.0   3.1  -4.7  -0.9   0.5   5.0   3.8
  Hours              -0.4   1.8  -0.3  -0.6  -1.6  -6.5  -7.1  -4.9  -0.4  -0.9
  Hourly compensation 1.9   2.6   5.8   3.9   9.2   2.3   7.3   8.3   2.2   6.6
  Real hourly                                                              
    compensation     -0.8   0.5   4.3   1.8   5.6  -0.5   5.6   5.8  -0.5   3.2
  Unit labor costs   -1.6  -0.9   0.9   0.3   4.2   0.3   0.6   2.5  -3.1   1.7
-------------------------------------------------------------------------------  
                     

     Hourly compensation in the business sector increased 5.1 percent in
2005, following a 4.6-percent increase in 2004.  Real hourly compensation
increased 1.7 percent; 2005 was the fifth consecutive year with a real hourly
compensation increase of less than 2.0 percent.  Unit labor costs in the
business sector rose 2.5 percent in 2005, more than in any year since 2000,
when this measure grew 4.0 percent.  The implicit price deflator for the
business sector rose 2.6 percent in 2005 and 2.4 percent in 2004.

Nonfarm business

     Productivity increased 2.7 percent in the nonfarm business sector in
2005, reflecting increases of 4.1 percent in output and 1.4 percent in hours.
Like the more comprehensive business sector, nonfarm productivity from 2001
to 2004 had grown at an above-average rate-- 3.7 percent.  Productivity had
been growing at an annual rate of 2.5 percent from 1995 to 2001.

     In 2005, hourly compensation increased 5.2 percent, following a 4.5-
percent rise in 2004. When the increase in consumer prices was taken into
account, real hourly compensation rose 1.8 percent in both 2005 and 2004.

     Unit labor costs in the nonfarm business sector increased 2.4 percent in
2005--more than in any year since 2000, when unit labor costs increased 4.2
percent.  The implicit price deflator for nonfarm business rose 2.8 percent
in 2005 and 2.1 percent in 2004.

Manufacturing

     In manufacturing, labor productivity rose 4.8 percent in 2005, as output
grew 3.8 percent and hours of all persons declined 0.9 percent (table B).
Productivity increased 5.4 percent in 2004, reflecting a 5.0-percent output
increase and a 0.4-percent decline in hours.  There was a 6.6-percent
increase in durable goods manufacturing productivity in 2005, as output
increased 6.3 percent and hours edged down 0.2 percent.  Output per hour
increased 2.9 percent in nondurable goods manufacturing, as output rose 0.7
percent and hours fell 2.1 percent.

     Hourly compensation of manufacturing workers increased 6.6 percent in
2005, more than the 2.2-percent growth rate in 2004, but lower than the 8.3-
percent increase in 2003 and the 7.3-percent increase in 2002.  In 2005,
hourly compensation rose 6.4 percent in durable goods manufacturing and 7.0
percent in nondurable good manufacturing.  Taking into account the rise in
consumer prices, real hourly compensation in manufacturing rose 3.2 percent
in 2005 and fell 0.5 percent one year earlier.

     Unit labor costs in manufacturing rose 1.7 percent in 2005, after
decreasing 3.1 percent in calendar year 2004; unit labor costs increased 2.5
percent in 2003.  Unit labor costs in durable goods manufacturing fell
slightly in 2005, 0.2 percent, compared with a 4.0-percent rise in unit labor
costs in nondurable goods manufacturing.

Revised Measures

     Current and previous measures for the third quarter of 2005 for the
business, nonfarm business, and manufacturing sectors are compared in table
C.  In the business and nonfarm business sectors, productivity and output
growth in the third quarter were lower than reported on Dec. 6, and hours
worked remained the same.  In both of these sectors, hourly compensation also
grew more than reported in December.  Hourly compensation was revised up and
productivity was revised down, both contributing to a decline in unit labor
costs in the third quarter that was less than previously reported.


---------------------------------------------------------------------
Table C. Previous and revised productivity and related measures
Quarterly percent change at seasonally adjusted annual rate
---------------------------------------------------------------------                                                          
                                                      Real      
                                             Hourly   hourly    Unit
                   Produc-                   compen-  compen-   labor
Sector             tivity   Output   Hours   sation   sation    costs
---------------------------------------------------------------------                                                                
                             Third quarter 2005
Business:                                                       
  Previous          5.4      5.0     -0.4     4.2      -0.8      -1.1
  Revised           5.2      4.8     -0.4     4.6      -0.5      -0.6
   
Nonfarm business:                                               
  Previous          4.7      4.8      0.1     3.7      -1.4      -1.0
  Revised           4.5      4.7      0.1     4.1      -1.0      -0.5
  
Manufacturing:                                                  
  Previous          3.4      2.4     -1.0     3.1      -1.9      -0.3
  Revised           3.7      2.6     -1.0     3.7      -1.3       0.1
---------------------------------------------------------------------      
     
     
     In the manufacturing sector, output and productivity were revised up in
the third quarter, and hours of all persons were unchanged.  Growth in hourly
compensation was revised up more than productivity, and unit labor costs
edged up slightly (0.1 percent) rather than declining by 0.3 percent.
     
     Manufacturing sector productivity and costs measures reflect revised
source data.  Annual indexes of real output for manufacturing and its durable
and nondurable goods components were revised by BLS due to incorporation of
revised current-dollar industry value of production data from the U.S. Bureau
of the Census.  Incorporating the revised data impacted both quarterly and
annual measures of output, productivity, and unit labor costs back to 1987.
The largest revisions begin in 2001, and appendix tables 1-3 display
quarterly and annual data for manufacturing, durable manufacturing, and
nondurable manufacturing beginning in 2000.  Annual historical data for total
manufacturing and its subsectors are presented in appendix tables 4-6.  Full
quarterly and annual historical series are available on the BLS website.


Revised measures: Nonfinancial Corporations
     
     Revised third-quarter productivity and output measures for nonfinancial
corporations also were announced today.  In the third quarter of 2005,
increases in productivity, output, and hours were virtually the same as
reported on Dec. 6.  Hourly compensation was revised up, resulting in a
larger increase in unit labor costs than previously reported (table D).


-----------------------------------------------------------------------------
Table D.  Nonfinancial corporations:  Previous and revised productivity and
cost measures, quarterly 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
-----------------------------------------------------------------------------                                                                     
                              Third quarter 2005
                              
Previous     3.2      4.0     0.8     4.5     -0.6    1.3    -2.9     1.7
Revised      3.2      4.1     0.8     4.9     -0.2    1.6    -7.9     2.1
-----------------------------------------------------------------------------
      
     The measure of real output for the nonfinancial corporate sector has
been revised by the Bureau of Economic Analysis (BEA), U.S. Department of
Commerce.  As a result, several measures for this sector were revised back to
the first quarter of 2002.  Recent quarterly and annual data for nonfinancial
corporations are shown in table 6.  Appendix table 7 provides data for 2002.
Full quarterly and annual historical series are available on the BLS website.
     
                                      
                                      
                              Next release date

     The next release of Productivity and Costs is scheduled for 8:30 A.M.
EST, Tuesday, March 7, 2006.  Revised fourth-quarter and annual average
measures for business, nonfarm business, and manufacturing will be released
at that time.

                               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 establishments.  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  earlier  years.  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 enter
prises 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.
    The  CES measures jobs, counting a person who is employed by two or  more
establishments  at each place of employment. In contrast,  the  CPS  features
measures  of  employment that count each person only once and  classify  each
person according to his or her primary job; hours worked at all jobs by  that
person accrue to his or her primary job.  However, the CPS also collects more
detailed information on employment and hours worked at primary jobs  and  all
other  jobs, separately.  The BLS productivity measures use the more detailed
information on employment and hours to assign all hours worked to the correct
industrial sector and avoid duplicating hours data from the CES.

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 exclusions 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  manufac-
turing;  computer and electronic product manufacturing; electrical  equipment
and   appliance   manufacturing;  transportation   equipment   manufacturing;
furniture and related product manufacturing; and miscellaneous manufacturing.
Nondurables include: food manufacturing; beverage and tobacco product manufac
turing;  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 manu-
facturing; 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.

Labor Compensation: Estimates of labor compensation by major sector, required
for measures of hourly compensation and unit labor costs, are based primarily
on  employee  compensation data from the NIPA, prepared  by  the  BEA.    The
compensation  of employees in general government, nonprofit institutions  and
private households are subtracted from compensation of domestic employees  to
derive  employee compensation for the business sector. The labor compensation
of  proprietors cannot be explicitly identified and must be estimated.   This
is  done  by  assuming that proprietors have the same hourly compensation  as
employees  in  the  same sector.  The quarterly labor productivity  and  cost
measures do not contain estimates of compensation for unpaid family workers.
     
Unit  Labor Costs:  The measures of unit labor costs in this release describe
the  relationship  between compensation per hour and  productivity,  or  real
output per hour, and can be used as an indicator of inflationary pressure  on
producers.  Increases in hourly compensation increase unit labor costs; labor
productivity  increases offset compensation increases and  lower  unit  labor
costs.

Presentation  of the data:  The quarterly data in this release are  presented
in three ways; as index number series where 1992=100, as percent changes from
the  corresponding quarter of the previous year, and as percent changes  from
the  previous quarter presented at a compound annual rate.  Annual  data  are
presented  both as index number series and percent changes from the  previous
year.
      The index numbers and rates of change reported in the productivity  and
costs news release are rounded to one decimal place.  All percent changes  in
this  release and on the BLS web site are calculated using index  numbers  to
three decimal places.  These index numbers are available at the BLS web site,
http://www.bls.gov/data/home/htm, or by contacting the BLS Division of  Major
Sector Productivity.  (Telephone 202-691-5606 or email DPRWEB@BLS.GOV)
     
     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     125.6      144.6     115.2     147.8       115.5      117.7       116.4      117.2
            II     127.9      146.4     114.5     150.3       117.3      117.5       117.2      117.4
           III     130.5      149.8     114.8     152.0       118.0      116.4       120.3      117.9
            IV     130.6      150.8     115.5     152.8       118.4      117.0       120.5      118.3

        ANNUAL     128.6      147.9     115.0     150.7       117.3      117.2       118.6      117.7

  2004       I     131.7      152.6     115.9     154.4       118.5      117.3       123.0      119.4
            II     132.8      154.1     116.1     155.7       118.2      117.2       126.1      120.5
           III     133.3      155.8     116.9     158.2       119.6      118.7       124.2      120.7
            IV     134.3      157.2     117.1     162.5       121.8      121.0       122.3      121.5

        ANNUAL     133.0      154.9     116.5     157.7       119.5      118.6       123.9      120.6

  2005       I     135.3      158.9     117.5     164.4       122.5      121.5       123.6      122.3
            II     135.5      160.4     118.4     164.3       121.2      121.2       126.2      123.1
           III    r137.3     r162.3    r118.3    r166.2      r121.1     r121.1      r129.1     r124.1
            IV     137.2      162.8     118.6     167.5       121.1      122.1       130.0      125.0

        ANNUAL     136.5      161.1     118.0     165.8       121.6      121.5       127.2      123.6

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2003       I       2.8        1.7      -1.1       5.5         1.3        2.6         0.5        1.8
            II       7.6        4.9      -2.6       7.0         6.5       -0.6         2.8        0.6
           III       8.4        9.9       1.3       4.5         2.3       -3.6        10.7        1.6
            IV       0.3        2.6       2.3       2.3         1.4        2.1         0.9        1.6

        ANNUAL       3.9        3.4      -0.5       3.9         1.6        0.0         3.7        1.4

  2004       I       3.4        4.9       1.5       4.2         0.3        0.8         8.6        3.7
            II       3.4        4.0       0.6       3.3        -1.0       -0.1        10.3        3.8
           III       1.4        4.4       3.0       6.5         4.8        5.0        -5.9        0.7
            IV       3.1        3.6       0.5      11.3         7.5        7.9        -6.0        2.4

        ANNUAL       3.4        4.8       1.3       4.6         1.9        1.2         4.4        2.4

  2005       I       2.9        4.4       1.4       4.7         2.3        1.7         4.4        2.7
            II       0.8        4.0       3.1      -0.1        -4.0       -0.9         8.7        2.6
           III      r5.2       r4.8      -0.4      r4.6       r-0.5      r-0.6        r9.5       r3.2
            IV      -0.2        1.0       1.2       3.2         0.0        3.4         2.8        3.1

        ANNUAL       2.6        4.0       1.3       5.1         1.7        2.5         2.7        2.6

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2003       I       2.4        2.0      -0.4       3.0         0.1        0.6         2.7        1.4
            II       3.8        2.6      -1.1       3.6         1.4       -0.2         3.9        1.3
           III       4.7        4.2      -0.5       4.3         2.0       -0.4         4.6        1.4
            IV       4.7        4.7       0.0       4.8         2.9        0.1         3.7        1.4

        ANNUAL       3.9        3.4      -0.5       3.9         1.6        0.0         3.7        1.4

  2004       I       4.9        5.5       0.6       4.5         2.6       -0.4         5.7        1.9
            II       3.8        5.3       1.4       3.6         0.8       -0.2         7.6        2.7
           III       2.1        4.0       1.8       4.1         1.4        1.9         3.3        2.4
            IV       2.8        4.2       1.4       6.3         2.8        3.4         1.5        2.6

        ANNUAL       3.4        4.8       1.3       4.6         1.9        1.2         4.4        2.4

  2005       I       2.7        4.1       1.3       6.4         3.3        3.6         0.5        2.4
            II       2.1        4.1       2.0       5.5         2.5        3.4         0.1        2.1
           III      r3.0        4.2       1.1      r5.1        r1.2       r2.0         3.9        2.7
            IV       2.2        3.5       1.3       3.1        -0.6        0.9         6.3        2.9

        ANNUAL       2.6        4.0       1.3       5.1         1.7        2.5         2.7        2.6

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       February 2, 2006
  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     124.9      144.8     115.9     147.0       114.9      117.7       118.2      117.9
            II     126.9      146.5     115.4     149.3       116.5      117.6       118.7      118.0
           III     129.9      150.2     115.6     151.2       117.4      116.4       121.6      118.3
            IV     130.1      151.2     116.2     152.2       117.9      116.9       121.3      118.6

        ANNUAL     128.0      148.2     115.8     149.9       116.7      117.1       120.0      118.2

  2004       I     130.8      152.8     116.8     153.5       117.8      117.3       123.5      119.6
            II     132.2      154.5     116.8     154.9       117.6      117.1       126.5      120.6
           III     132.7      156.3     117.8     157.2       118.8      118.5       125.3      121.0
            IV     133.5      157.7     118.2     161.0       120.7      120.7       123.7      121.8

        ANNUAL     132.3      155.3     117.4     156.7       118.7      118.4       124.7      120.7

  2005       I     134.5      159.4     118.5     163.2       121.6      121.3       125.0      122.7
            II     135.3      161.2     119.2     163.6       120.6      120.9       127.9      123.5
           III    r136.8     r163.0    r119.2    r165.2      r120.3     r120.8      r131.0     r124.5
            IV     136.6      163.4     119.6     166.4       120.2      121.8       131.9      125.5

        ANNUAL     135.9      161.7     119.0     164.8       120.8      121.2       128.9      124.1

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2003       I       3.1        2.0      -1.1       5.8         1.5        2.6         0.8        1.9
            II       6.6        4.7      -1.8       6.2         5.8       -0.3         1.7        0.4
           III       9.6       10.4       0.8       5.1         2.9       -4.1        10.2        1.0
            IV       0.8        2.8       2.0       2.7         1.8        2.0        -1.1        0.8

        ANNUAL       3.8        3.3      -0.5       4.0         1.6        0.2         3.2        1.3

  2004       I       2.1        4.2       2.0       3.5        -0.5        1.3         7.4        3.6
            II       4.5        4.6       0.1       3.7        -0.7       -0.8        10.0        3.2
           III       1.3        4.6       3.3       6.1         4.4        4.8        -3.6        1.5
            IV       2.5        3.9       1.4      10.2         6.4        7.6        -5.1        2.6

        ANNUAL       3.4        4.8       1.4       4.5         1.8        1.1         3.9        2.1

  2005       I       3.2        4.3       1.1       5.5         3.1        2.2         4.4        3.0
            II       2.1        4.4       2.2       0.9        -3.1       -1.2         9.4        2.7
           III      r4.5       r4.7       0.1      r4.1       r-1.0      r-0.5       r10.1       r3.5
            IV      -0.6        0.9       1.5       2.8        -0.4        3.5         2.8        3.2

        ANNUAL       2.7        4.1       1.4       5.2         1.8        2.4         3.4        2.8

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2003       I       2.0        1.7      -0.3       3.0         0.1        1.0         2.7        1.6
            II       3.5        2.5      -0.9       3.5         1.3        0.1         3.2        1.2
           III       4.8        4.2      -0.5       4.4         2.1       -0.4         4.1        1.2
            IV       5.0        4.9       0.0       5.0         3.0        0.0         2.8        1.0

        ANNUAL       3.8        3.3      -0.5       4.0         1.6        0.2         3.2        1.3

  2004       I       4.7        5.5       0.7       4.4         2.5       -0.3         4.5        1.5
            II       4.2        5.5       1.2       3.7         0.9       -0.4         6.5        2.1
           III       2.2        4.0       1.9       4.0         1.2        1.8         3.0        2.3
            IV       2.6        4.3       1.7       5.8         2.4        3.2         1.9        2.7

        ANNUAL       3.4        4.8       1.4       4.5         1.8        1.1         3.9        2.1

  2005       I       2.9        4.4       1.5       6.3         3.3        3.4         1.2        2.6
            II       2.3        4.3       2.0       5.6         2.6        3.3         1.1        2.4
           III       3.1       r4.3       1.2      r5.1        r1.3       r2.0         4.5       r2.9
            IV       2.3        3.6       1.2       3.3        -0.4        1.0         6.6        3.1

        ANNUAL       2.7        4.1       1.4       5.2         1.8        2.4         3.4        2.8

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       February 2, 2006
  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           r151.0       r131.3         86.9        156.5          122.3        r103.7
            II           r152.6       r130.5         85.5        159.2          124.3        r104.3
           III           r156.5       r131.8         84.2        161.5          125.4        r103.2
            IV           r157.6       r133.8         84.9        163.2          126.5        r103.6

        ANNUAL           r154.4       r131.8         85.4        160.1          124.6        r103.7

  2004       I           r158.9       r135.7         85.4        159.1          122.1        r100.1
            II           r162.1       r137.9         85.1        161.1          122.3         r99.4
           III           r163.9       r139.3         85.0        164.9          124.7        r100.6
            IV           r166.2       r140.8         84.7        169.3          126.9        r101.9

        ANNUAL           r162.8       r138.4         85.0        163.6          124.0        r100.5

  2005       I           r168.2       r142.2         84.6        172.2          128.3        r102.4
            II           r169.8       r142.7         84.0        173.8          128.2        r102.4
           III           r171.4       r143.6        r83.8       r175.4         r127.8        r102.4
            IV            173.0        146.5         84.7        176.2          127.4         101.9

        ANNUAL            170.6        143.8         84.3        174.4          127.9         102.3

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2003       I              7.0          0.3         -6.3         17.9           13.1          10.2
            II              4.3        r-2.5         -6.5          6.9            6.5           2.5
           III             10.4          3.9         -5.9          5.9            3.7          -4.0
            IV              3.0          6.4          3.3          4.3            3.4           1.3

        ANNUAL             r5.6         r0.5         -4.9          8.3            5.8          r2.5

  2004       I              3.4          5.9          2.4         -9.7          -13.1         -12.7
            II              8.3          6.6         -1.6          5.1            0.7          -3.0
           III              4.4          4.1         -0.3          9.8            8.0           5.1
            IV              5.7          4.3         -1.3         11.2            7.4           5.2

        ANNUAL              5.4          5.0         -0.4          2.2           -0.5          -3.1

  2005       I              4.9          4.2         -0.7          7.1            4.6           2.1
            II              4.0          1.2         -2.6          3.8           -0.4          -0.2
           III             r3.7         r2.6         -1.0         r3.7          r-1.3          r0.1
            IV              3.9          8.4          4.4          1.9           -1.3          -1.9

        ANNUAL              4.8          3.8         -0.9          6.6            3.2           1.7

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2003       I             r5.3         r0.9         -4.2          8.2            5.2          r2.7
            II             r4.9        r-0.8         -5.4          7.8            5.5          r2.8
           III             r6.1        r-0.2         -6.0          8.4            6.0          r2.1
            IV              6.1          2.0         -3.9          8.7            6.6           2.4

        ANNUAL             r5.6         r0.5         -4.9          8.3            5.8          r2.5

  2004       I              5.2          3.4         -1.8          1.6           -0.2          -3.4
            II              6.2          5.7         -0.5          1.2           -1.6          -4.7
           III              4.7          5.7          0.9          2.1           -0.6          -2.5
            IV              5.4          5.2         -0.2          3.7            0.3          -1.6

        ANNUAL              5.4          5.0         -0.4          2.2           -0.5          -3.1

  2005       I              5.8          4.8         -1.0          8.3            5.1           2.3
            II              4.7          3.4         -1.2          7.9            4.8           3.0
           III             r4.6         r3.1         -1.4         r6.4           r2.5          r1.8
            IV              4.1          4.1          0.0          4.1            0.4           0.0

        ANNUAL              4.8          3.8         -0.9          6.6            3.2           1.7

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                February 2, 2006
  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           r173.7       r156.6         90.1        154.9          121.1         r89.2
            II           r176.0       r155.9         88.6        157.7          123.1         r89.6
           III           r182.4       r158.9         87.1        160.1          124.3         r87.8
            IV           r184.0       r162.6         88.3        161.9          125.5         r88.0

        ANNUAL           r179.0       r158.5         88.5        158.6          123.5         r88.6

  2004       I           r185.8       r165.9         89.3        155.5          119.4         r83.7
            II           r189.7       r168.7         88.9        158.2          120.1         r83.4
           III           r192.3       r171.6         89.2        162.1          122.6         r84.3
            IV           r195.7       r174.1         89.0        166.0          124.4         r84.8

        ANNUAL           r190.9       r170.1         89.1        160.4          121.6         r84.1

  2005       I           r199.2       r177.0         88.9        169.0          125.9         r84.9
            II           r201.3       r178.1         88.5        170.1          125.5         r84.5
           III           r204.5       r181.2        r88.6       r171.5         r124.9         r83.8
            IV            208.6        187.0         89.7        172.0          124.3          82.4

        ANNUAL            203.4        180.8         88.9        170.6          125.1          83.9

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2003       I              7.6          0.7         -6.4         22.2           17.2          13.6
            II              5.4         -1.8         -6.9          7.3            6.9           1.8
           III             15.2          8.0         -6.3          6.2            3.9          -7.8
            IV              3.7          9.5          5.6          4.7            3.8           1.0

        ANNUAL             r7.9         r2.2         -5.3          9.3            6.9          r1.4

  2004       I              4.0          8.5          4.3        -14.9          -18.1         -18.1
            II              8.7          7.0         -1.5          6.9            2.4          -1.6
           III              5.5          6.9          1.3         10.3            8.5           4.6
            IV              7.3          6.1         -1.1          9.9            6.1           2.5

        ANNUAL              6.6          7.3          0.6          1.1           -1.5          -5.2

  2005       I              7.3          6.8         -0.5          7.5            5.1           0.2
            II              4.3          2.6         -1.7          2.6           -1.5          -1.6
           III             r6.7         r7.0          0.3         r3.2          r-1.8         r-3.2
            IV              8.2         13.7          5.1          1.2           -1.9          -6.4

        ANNUAL              6.6          6.3         -0.2          6.4            2.9          -0.2

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2003       I             r7.8         r2.7         -4.7          9.1            6.0          r1.3
            II             r7.0         r0.5         -6.1          8.7            6.4          r1.6
           III              8.8         r1.5         -6.7          9.6            7.3           0.7
            IV              7.9          4.0         -3.6          9.9            7.8           1.9

        ANNUAL             r7.9         r2.2         -5.3          9.3            6.9          r1.4

  2004       I              7.0          5.9         -1.0          0.4           -1.4          -6.1
            II              7.8          8.2          0.4          0.3           -2.5          -6.9
           III              5.4          8.0          2.4          1.3           -1.4          -3.9
            IV              6.3          7.1          0.7          2.5           -0.9          -3.6

        ANNUAL              6.6          7.3          0.6          1.1           -1.5          -5.2

  2005       I              7.2          6.7         -0.5          8.7            5.5           1.4
            II              6.1          5.6         -0.5          7.5            4.5           1.4
           III             r6.4          5.6         -0.7         r5.8           r1.9         r-0.6
            IV              6.6          7.4          0.8          3.6           -0.1          -2.8

        ANNUAL              6.6          6.3         -0.2          6.4            2.9          -0.2

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                February 2, 2006
  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           r128.8       r105.8         82.1        158.0          123.5        r122.7
            II           r129.7       r104.9         80.9        160.5          125.3        r123.7
           III           r131.2       r104.7         79.8        162.7          126.3        r124.0
            IV           r132.2       r105.4         79.7        163.9          127.0        r124.0

        ANNUAL           r130.5       r105.2         80.6        161.2          125.5        r123.6

  2004       I           r133.3       r106.1         79.6        164.1          125.9        r123.1
            II           r135.8       r107.7         79.3        164.7          125.1        r121.3
           III           r137.1       r107.8         78.7        168.1          127.1        r122.6
            IV           r138.4       r108.4         78.3        173.5          130.1        r125.4

        ANNUAL           r136.1       r107.5         79.0        167.6          127.0        r123.1

  2005       I           r139.0       r108.6         78.1        176.1          131.3        r126.7
            II           r140.4       r108.5         77.3        178.7          131.8        r127.2
           III           r140.5       r107.7        r76.7       r180.6         r131.5        r128.5
            IV            140.2        108.3         77.3        181.9          131.5         129.7

        ANNUAL            140.0        108.3         77.3        179.3          131.5         128.0

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2003       I              6.2         -0.2         -6.0         10.3            5.9           3.9
            II              2.9         -3.2         -5.9          6.3            5.9           3.3
           III              4.6         -0.8         -5.2          5.6            3.4           1.0
            IV              3.0          2.6         -0.4          3.0            2.1           0.0

        ANNUAL             r2.9        r-1.5         -4.2          6.4            4.0          r3.4

  2004       I              3.4          2.6         -0.8          0.5           -3.3          -2.8
            II              7.8          6.0         -1.7          1.7           -2.6          -5.7
           III              3.8          0.7         -3.0          8.4            6.6           4.4
            IV              3.7          2.0         -1.6         13.7            9.7           9.6

        ANNUAL              4.3          2.2         -2.1          3.9            1.2          -0.4

  2005       I              2.0          0.9         -1.1          6.1            3.7          r4.0
            II              4.0         -0.4         -4.3          5.8            1.6           1.7
           III             r0.3        r-2.8        r-3.2         r4.3          r-0.7          r4.0
            IV             -1.0          2.1          3.2          2.9           -0.3           4.0

        ANNUAL              2.9          0.7         -2.1          7.0            3.5           4.0

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2003       I             r2.6        r-0.9         -3.4          6.7            3.7          r4.0
            II             r2.1        r-2.3         -4.3          6.4            4.1          r4.2
           III             r2.7        r-2.2         -4.8          6.2            3.9          r3.4
            IV              4.2         -0.4         -4.4          6.3            4.3           2.0

        ANNUAL             r2.9        r-1.5         -4.2          6.4            4.0          r3.4

  2004       I              3.5          0.3         -3.1          3.8            2.0           0.3
            II              4.7          2.6         -2.0          2.7           -0.2          -1.9
           III              4.5          3.0         -1.5          3.3            0.6          -1.1
            IV              4.7          2.8         -1.8          5.9            2.4           1.2

        ANNUAL              4.3          2.2         -2.1          3.9            1.2          -0.4

  2005       I              4.3          2.4         -1.8          7.4            4.3           2.9
            II              3.4          0.8         -2.5          8.5            5.4           4.9
           III              2.5        r-0.1        r-2.5         r7.4           r3.5          r4.8
            IV              1.3         -0.1         -1.4          4.8            1.1           3.4

        ANNUAL              2.9          0.7         -2.1          7.0            3.5           4.0

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                February 2, 2006
  r=revised                                                       Source: Bureau of Labor Statistics



  Table 6. Nonfinancial corporate sector: 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   r130.5   r152.4     116.8    144.6     113.0    r110.8   r111.4   r111.0   r107.7   r110.7
            II   r132.8   r154.5     116.3    147.0     114.8    r110.7   r110.4   r110.6   r113.6   r110.9
           III   r135.2   r157.1     116.2    148.9     115.6    r110.1   r110.8   r110.3   r119.8   r111.1
            IV   r136.1   r158.9     116.8    149.8     116.0    r110.1   r110.7   r110.2   r124.6   r111.5

        ANNUAL   r133.7   r155.7     116.5    147.6     114.8    r110.4   r110.8   r110.5   r116.5   r111.0

  2004       I   r136.4   r160.3     117.5    150.3     115.4    r110.2   r111.2   r110.5   r130.0   r112.2
            II   r137.2   r161.7     117.8    151.7     115.2    r110.6   r111.2   r110.7   r138.3   r113.2
           III   r139.7   r165.4     118.4    154.0     116.5    r110.2   r110.0   r110.2   r139.4   r112.8
            IV   r142.7   r169.4     118.8    158.0     118.4    r110.7   r108.5   r110.1   r142.7   r113.1

        ANNUAL   r139.0   r164.2     118.1    153.5     116.4    r110.4   r110.2   r110.4   r137.7   r112.8

  2005       I   r143.6   r170.8     118.9    160.3     119.4    r111.6   r107.9   r110.6   r145.2   r113.7
            II   r145.2   r173.8     119.7    160.6     118.4    r110.6   r107.0   r109.7   r159.1   r114.1
           III   r146.3   r175.5    r120.0   r162.5    r118.4    r111.1   r109.4   r110.6   r155.8   r114.7
  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2003       I     r1.3    r-1.6      -2.8      3.9      -0.3      r2.6     r6.5     r3.7   r-11.8     r2.2
            II     r7.4     r5.6      -1.7      6.9       6.4     r-0.5    r-3.2    r-1.2    r23.6     r0.8
           III     r7.4     r7.1      -0.3      5.2       2.9     r-2.1     r1.2    r-1.2    r23.7     r0.9
            IV     r2.5     r4.7       2.1      2.4       1.5     r-0.1    r-0.4    r-0.2    r17.0     r1.4

        ANNUAL     r4.2     r2.8      -1.4      3.9       1.6     r-0.3     r0.0    r-0.2    r18.9     r1.3

  2004       I     r0.9     r3.6       2.6      1.5      -2.3      r0.6     r2.0     r0.9    r18.4     r2.6
            II     r2.4     r3.5       1.0      3.7      -0.7      r1.2     r0.2     r0.9    r28.0     r3.5
           III     r7.5     r9.6       1.9      6.3       4.6     r-1.1    r-4.4    r-2.0     r3.3    r-1.4
            IV     r8.6    r10.1       1.3     10.6       6.8      r1.8    r-5.3    r-0.1     r9.8     r0.9

        ANNUAL     r4.0     r5.5       1.4      4.0       1.3      r0.0    r-0.5    r-0.1    r18.1     r1.6

  2005       I     r2.8      3.3       0.5      5.9       3.5       3.1     -2.5      1.6      7.1      2.2
            II      4.3      7.1       2.6      0.8      -3.2      -3.4     -3.1     -3.3     44.3      1.4
           III      3.2     r4.1       0.8     r4.9     r-0.2      r1.6     r9.3     r3.6    r-7.9     r2.1
  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2003       I     r3.6     r2.1      -1.5      3.2       0.3     r-0.4    r-1.5    r-0.7    r25.5      1.2
            II     r3.9     r2.1      -1.8      3.6       1.4     r-0.3    r-0.2    r-0.3    r20.2     r1.3
           III     r4.8     r3.2      -1.5      4.3       2.1     r-0.5     r0.7    r-0.2    r19.5     r1.4
            IV     r4.6     r3.9      -0.7      4.6       2.6      r0.0     r0.9     r0.2    r12.1     r1.3

        ANNUAL     r4.2     r2.8      -1.4      3.9       1.6     r-0.3     r0.0    r-0.2    r18.9     r1.3

  2004       I     r4.5     r5.2       0.7      4.0       2.1     r-0.5    r-0.1    r-0.4    r20.7     r1.4
            II     r3.3     r4.7       1.3      3.2       0.3     r-0.1     r0.7     r0.1    r21.7     r2.1
           III     r3.3     r5.3       1.9      3.5       0.7      r0.1    r-0.7    r-0.1    r16.3     r1.5
            IV     r4.8     r6.6       1.7      5.5       2.0      r0.6    r-1.9    r-0.1    r14.5     r1.4

        ANNUAL     r4.0     r5.5       1.4      4.0       1.3      r0.0    r-0.5    r-0.1    r18.1     r1.6

  2005       I     r5.3     r6.5       1.2      6.6       3.5      r1.2    r-3.0     r0.1    r11.7     r1.3
            II     r5.8     r7.5       1.6      5.9       2.8       0.1    r-3.8    r-1.0     15.1      0.8
           III      4.7     r6.1       1.3     r5.5      r1.6       0.7    r-0.5     r0.4    r11.8     r1.7
  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        February 2, 2006
  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 third 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.  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         r133.1        r138.6        104.1        133.2          112.1        r100.1
            II         r134.3        r139.9        104.1        132.5          110.7         r98.7
           III         r134.1        r139.2        103.8        135.9          112.4        r101.3
            IV         r135.4        r138.1        102.0        136.7          112.3        r101.0

        ANNUAL         r134.4        r138.9        103.4        134.7          112.0        r100.3

  2001       I         r135.2        r135.5        100.2        138.1          112.4        r102.1
            II         r136.3        r133.6         98.0        137.3          110.9        r100.8
           III         r137.0        r131.3         95.8        137.0          110.4        r100.0
            IV         r140.0        r129.5         92.5        139.0          112.2         r99.3

        ANNUAL         r137.1        r132.5         96.6        137.8          111.5        r100.6

  2002       I         r143.4        r130.1         90.8        144.7          116.3        r100.9
            II         r145.5        r131.6         90.4        147.6          117.7        r101.4
           III         r147.4        r132.0         89.6        149.0          118.3        r101.1
            IV         r148.5        r131.2         88.4        150.2          118.6        r101.2

        ANNUAL         r146.2        r131.2         89.8        147.9          117.7        r101.1

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I           r6.5          r4.5         -1.9         21.8           17.3          14.3
            II           r3.8           3.8          0.0         -2.1           -5.1          -5.6
           III          r-0.6         r-2.0         -1.4         10.6            6.6         r11.3
            IV           r4.0         r-3.0         -6.7          2.4           -0.4         r-1.5

        ANNUAL           r4.8          r3.1         -1.6          9.2            5.6           4.2

  2001       I          r-0.5         r-7.2         -6.7          4.3            0.4          r4.8
            II           r3.1         r-5.7         -8.5         -2.4           -5.4         r-5.3
           III           r2.0         r-6.8         -8.6         -0.9           -1.7         r-2.9
            IV           r9.2         r-5.3        -13.3          5.9            6.5         r-3.0

        ANNUAL           r2.0         r-4.7         -6.5          2.3           -0.5          r0.3

  2002       I          r10.0          r2.1         -7.2         17.4           15.7          r6.7
            II           r6.2          r4.6         -1.5          8.4            5.0          r2.1
           III           r5.2          r1.3         -3.8          4.0            1.8         r-1.2
            IV           r3.0         r-2.4         -5.3          3.2            1.1          r0.2

        ANNUAL           r6.6         r-0.9         -7.1          7.3            5.6          r0.6

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            4.8           4.0         -0.8          9.8            6.4           4.8
            II            5.3           4.3         -0.9          8.5            5.1           3.1
           III            5.1           3.3         -1.7         10.0            6.4           4.7
            IV           r3.4          r0.8         -2.5          7.8            4.2          r4.3

        ANNUAL           r4.8          r3.1         -1.6          9.2            5.6           4.2

  2001       I           r1.6         r-2.2         -3.7          3.7            0.3          r2.0
            II           r1.5         r-4.5         -5.9          3.6            0.2          r2.1
           III           r2.1         r-5.7         -7.6          0.8           -1.8         r-1.3
            IV           r3.4         r-6.3         -9.3          1.7           -0.1         r-1.7

        ANNUAL           r2.0         r-4.7         -6.5          2.3           -0.5          r0.3

  2002       I           r6.0         r-4.0         -9.4          4.7            3.5         r-1.2
            II           r6.8         r-1.5         -7.8          7.5            6.2          r0.7
           III           r7.6          r0.6         -6.6          8.8            7.1          r1.1
            IV           r6.1          r1.3         -4.5          8.1            5.7          r1.9

        ANNUAL           r6.6         r-0.9         -7.1          7.3            5.6          r0.6

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                February 2, 2006
  r=revised                                                       Source: Bureau of Labor Statistics



Appendix table 2. 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         r150.0        r165.3        110.2        133.4          112.3         r88.9
            II         r151.3        r167.5        110.7        131.9          110.1         r87.1
           III         r151.3        r166.8        110.2        135.7          112.3         r89.7
            IV         r151.9        r165.0        108.6        135.4          111.3         r89.2

        ANNUAL         r151.3        r166.2        109.8        134.2          111.6         r88.7

  2001       I         r151.3        r161.2        106.5        136.4          111.0         r90.1
            II         r152.4        r158.3        103.9        135.8          109.7         r89.1
           III         r153.5        r154.5        100.7        135.6          109.3         r88.3
            IV         r156.4        r151.1         96.6        137.9          111.3         r88.2

        ANNUAL         r153.4        r156.3        101.9        136.4          110.3         r88.9

  2002       I         r161.2        r152.5         94.6        142.0          114.2         r88.1
            II         r164.4        r155.2         94.3        145.0          115.7         r88.2
           III         r167.6        r156.5         93.4        146.0          115.9         r87.1
            IV         r170.6        r156.3         91.7        147.4          116.4         r86.4

        ANNUAL         r165.9        r155.1         93.5        145.1          115.5         r87.4

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I          r10.9          r9.0         -1.7         25.0           20.3         r12.7
            II           r3.5          r5.2          1.6         -4.5           -7.5         r-7.8
           III           r0.0         r-1.6         -1.6         12.1            8.1         r12.1
            IV           r1.5         r-4.2         -5.6         -0.7           -3.5         r-2.2

        ANNUAL           r5.4          r4.7         -0.7          9.7            6.1          r4.1

  2001       I          r-1.5         r-9.0         -7.6          2.7           -1.1          r4.2
            II            2.9         r-6.9         -9.4         -1.7           -4.7          -4.5
           III           r2.9         r-9.3        -11.8         -0.6           -1.4         r-3.4
            IV           r7.8         r-8.5        -15.2          7.1            7.7         r-0.7

        ANNUAL           r1.3          -5.9         -7.2          1.6           -1.2           0.2

  2002       I          r12.8          r3.6         -8.1         12.4           10.7         r-0.4
            II           r8.3          r7.2         -1.0          8.9            5.4          r0.5
           III           r7.9          r3.5         -4.0          2.8            0.7         r-4.8
            IV           r7.3         r-0.5         -7.2          3.7            1.6         r-3.3

        ANNUAL           r8.2         r-0.8         -8.3          6.4            4.7         r-1.7

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I           r6.0          r6.2          0.2         11.2            7.7          r4.9
            II            5.6          r6.2          0.6          8.9            5.5          r3.1
           III           r5.7          r4.4         -1.2         10.9            7.2          r4.9
            IV           r3.9          r2.0         -1.8          7.4            3.8          r3.3

        ANNUAL           r5.4          r4.7         -0.7          9.7            6.1          r4.1

  2001       I           r0.9         r-2.5         -3.4          2.2           -1.1          r1.3
            II           r0.7         r-5.4         -6.1          3.0           -0.4          r2.2
           III           r1.4          -7.3         -8.7         -0.1           -2.7          -1.5
            IV           r3.0         r-8.4        -11.1          1.8            0.0         r-1.1

        ANNUAL           r1.3          -5.9         -7.2          1.6           -1.2           0.2

  2002       I           r6.5         r-5.4        -11.2          4.1            2.9         r-2.2
            II           r7.9         r-2.0         -9.2          6.8            5.5         r-1.0
           III           r9.2          r1.3         -7.2          7.7            6.1         r-1.4
            IV           r9.0          r3.4         -5.1          6.9            4.5         r-2.0

        ANNUAL           r8.2         r-0.8         -8.3          6.4            4.7         r-1.7

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                February 2, 2006
  r=revised                                                       Source: Bureau of Labor Statistics



Appendix table 3. 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         r116.9        r111.1         95.0        130.5          109.8        r111.6
            II         r118.2        r111.5         94.4        131.4          109.7        r111.2
           III         r117.6        r110.6         94.1        133.7          110.7        r113.8
            IV         r119.7        r110.2         92.0        136.6          112.2        r114.1

        ANNUAL         r118.3        r110.9         93.7        133.2          110.8        r112.7

  2001       I         r119.7        r108.7         90.8        139.2          113.3        r116.3
            II         r120.5        r107.5         89.2        138.0          111.5        r114.5
           III         r120.4        r106.7         88.6        137.8          111.1        r114.5
            IV         r123.4        r106.5         86.3        139.3          112.4        r112.8

        ANNUAL         r121.0        r107.3         88.7        138.6          112.1        r114.6

  2002       I         r125.6        r106.8         85.0        148.1          119.1        r117.9
            II         r127.0        r107.4         84.5        150.8          120.3        r118.7
           III         r127.8        r107.1         83.8        153.1          121.5        r119.8
            IV         r126.9        r105.9         83.4        154.2          121.7        r121.5

        ANNUAL         r126.8        r106.8         84.2        151.5          120.6        r119.5

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I           r0.5         r-1.7         -2.2         15.4           11.1         r14.8
            II           r4.3          r1.4         -2.8          2.7           -0.4         r-1.5
           III          r-2.0          -3.0         -1.0          7.4            3.5           9.6
            IV           r7.4         r-1.7         -8.5          8.9            5.9          r1.4

        ANNUAL           r3.9          r0.6         -3.2          7.8            4.3          r3.8

  2001       I          r-0.1         r-5.2         -5.1          7.8            3.8          r7.9
            II           r2.9         r-4.1         -6.8         -3.4           -6.3         r-6.1
           III          r-0.4         r-3.3         -2.9         -0.6           -1.4         r-0.2
            IV          r10.6         r-0.6        -10.1          4.3            4.9         r-5.7

        ANNUAL           r2.3         r-3.2         -5.3          4.0            1.2          r1.7

  2002       I           r7.2          r1.3         -5.5         28.0           26.2         r19.4
            II           r4.7          r2.1         -2.4          7.4            4.0          r2.6
           III           r2.3         r-1.0         -3.2          6.3            4.1          r3.9
            IV          r-2.7         r-4.6         -2.0          2.8            0.7          r5.6

        ANNUAL           r4.8         r-0.5         -5.1          9.4            7.6          r4.3

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I           r3.4          r0.8         -2.5          6.7            3.4          r3.2
            II           r5.0          r1.3         -3.5          7.3            3.9          r2.2
           III           r4.1          r1.4         -2.6          8.2            4.6          r3.9
            IV           r2.5         r-1.3         -3.7          8.5            4.9          r5.9

        ANNUAL           r3.9          r0.6         -3.2          7.8            4.3          r3.8

  2001       I           r2.3         r-2.2         -4.4          6.7            3.2          r4.2
            II           r2.0         r-3.5         -5.4          5.1            1.6          r3.0
           III           r2.4         r-3.6         -5.9          3.1            0.4          r0.6
            IV           r3.1         r-3.3         -6.3          1.9            0.1         r-1.2

        ANNUAL           r2.3         r-3.2         -5.3          4.0            1.2          r1.7

  2002       I           r5.0         r-1.7         -6.4          6.4            5.1          r1.4
            II           r5.4         r-0.1         -5.3          9.3            7.9          r3.6
           III           r6.1          r0.4         -5.4         11.1            9.4          r4.7
            IV           r2.8         r-0.6         -3.3         10.7            8.3          r7.7

        ANNUAL           r4.8         r-0.5         -5.1          9.4            7.6          r4.3

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                February 2, 2006
  r=revised                                                       Source: Bureau of Labor Statistics



 
 Appendix table 4. Manufacturing sector:  Productivity, hourly compensation, and unit labor costs,
 Indexes 1992=100
                                                                             Real
                     Output per                  Hours       Compensa-       compensa-      Unit 
                     hour of                     of all      tion per        tion per       labor
       Year          all persons    Output       persons     hour (1)        hour (2)       costs
  -----------------------------------------------------------------------------------------------
       1987             r88.3        r91.6        103.8         81.3            98.0        r92.1
       1988             r90.0        r96.2        107.0         84.1            97.8        r93.5
       1989             r90.3        r97.2        107.6         86.6            96.6        r95.9

       1990             r92.9        r97.6        105.0         90.5            96.1        r97.4
       1991             r95.4        r96.0        100.5         95.6            98.0       r100.1
       1992             100.0        100.0        100.0        100.0           100.0        100.0
       1993            r102.7       r104.1        101.4        102.0            99.5        r99.4
       1994            r106.1       r110.1        103.8        105.3           100.6        r99.2

       1995            r110.0       r115.0        104.6        107.3           100.1        r97.6
       1996            r113.9       r118.7        104.2        109.3            99.3        r96.0
       1997            r118.0       r125.2        106.0        112.2            99.8        r95.1
       1998            r123.8       r130.9        105.7        118.8           104.2        r95.9
       1999            r128.3       r134.8        105.1        123.4           106.0        r96.2

       2000            r134.4       r138.9        103.4        134.7           112.0       r100.3
       2001            r137.1       r132.5         96.6        137.8           111.5       r100.6
       2002            r146.2       r131.2         89.8        147.9           117.7       r101.1
       2003            r154.4       r131.8         85.4        160.1           124.6       r103.7
       2004            r162.8       r138.4         85.0        163.6           124.0       r100.5

       2005            r170.6       r143.8        r84.3       r174.4          r127.9       r102.3
  -----------------------------------------------------------------------------------------------
  See footnotes following Table 6.                             February 2, 2006
  r=revised                                                    Source: Bureau of Labor Statistics




 Appendix table 5. Durable manufacturing sector:  Productivity, hourly compensation,
 and unit labor costs,
 Indexes 1992=100
                                                                             Real
                     Output per                  Hours       Compensa-       compensa-      Unit 
                     hour of                     of all      tion per        tion per       labor
       Year          all persons    Output       persons     hour (1)        hour (2)       costs
  -----------------------------------------------------------------------------------------------
       1987             r89.3        r95.1        106.5         81.3            97.9        r91.0
       1988             r91.3       r101.0        110.6         83.6            97.2        r91.6
       1989             r91.2       r101.2        111.0         85.9            95.8        r94.2

       1990             r93.2       r100.1        107.4         89.5            95.0        r96.0
       1991             r94.6        r95.9        101.4         94.9            97.3       r100.3
       1992             100.0        100.0        100.0        100.0           100.0        100.0
       1993            r104.5       r106.0        101.4        101.9            99.4        r97.5
       1994            r109.6       r114.8        104.7        105.4           100.7        r96.2

       1995            r115.2       r122.8        106.6        106.7            99.5        r92.7
       1996            r120.7       r129.5        107.3        108.1            98.2        r89.5
       1997            r126.2       r139.5        110.5        110.6            98.4        r87.6
       1998            r135.6       r150.4        111.0        117.1           102.7        r86.4
       1999            r143.6       r158.7        110.6        122.4           105.2        r85.3

       2000            r151.3       r166.2        109.8        134.2           111.6        r88.7
       2001            r153.4       r156.3        101.9        136.4           110.3        r88.9
       2002            r165.9       r155.1         93.5        145.1           115.5        r87.4
       2003            r179.0       r158.5         88.5        158.6           123.5        r88.6
       2004            r190.9       r170.1         89.1        160.4           121.6        r84.1

       2005            r203.4       r180.8        r88.9       r170.6          r125.1        r83.9
  -----------------------------------------------------------------------------------------------
  See footnotes following Table 6.                             February 2, 2006
  r=revised                                                    Source: Bureau of Labor Statistics




 Appendix table 6. Nondurable manufacturing sector:  Productivity, hourly compensation,
 and unit labor costs,
 Indexes 1992=100
                                                                             Real
                     Output per                  Hours       Compensa-       compensa-      Unit 
                     hour of                     of all      tion per        tion per       labor
       Year          all persons    Output       persons     hour (1)        hour (2)       costs
  -----------------------------------------------------------------------------------------------
       1987             r90.2        r89.9         99.7         80.8            97.4        r89.5
       1988             r91.8        r93.1        101.5         84.2            98.0        r91.8
       1989             r92.1        r94.6        102.7         87.1            97.2        r94.6

       1990             r94.7        r96.0        101.4         91.7            97.4        r96.9
       1991             r97.4        r96.6         99.2         96.5            98.9        r99.1
       1992             100.0        100.0        100.0        100.0           100.0        100.0
       1993            r100.4       r101.8        101.4        102.3            99.8       r101.8
       1994            r102.2       r104.5        102.3        104.7           100.1       r102.5

       1995            r104.6       r106.2        101.6        107.8           100.6       r103.0
       1996            r107.1       r106.5         99.5        110.8           100.7       r103.5
       1997            r110.6       r110.0         99.4        114.1           101.5       r103.1
       1998            r112.9       r110.5         97.9        120.3           105.5       r106.6
       1999            r113.8       r110.2         96.9        123.6           106.2       r108.6

       2000            r118.3       r110.9         93.7        133.2           110.8       r112.7
       2001            r121.0       r107.3         88.7        138.6           112.1       r114.6
       2002            r126.8       r106.8         84.2        151.5           120.6       r119.5
       2003            r130.5       r105.2         80.6        161.2           125.5       r123.6
       2004            r136.1       r107.5         79.0        167.6           127.0       r123.1

       2005            r140.0       r108.3        r77.3       r179.3          r131.5       r128.0
  -----------------------------------------------------------------------------------------------
  See footnotes following Table 6.                             February 2, 2006
  r=revised                                                    Source: Bureau of Labor Statistics



Appendix table 7. Nonfinancial corporate sector:  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

  2002      I   r126.0   r149.3     118.5    140.1     112.7    r111.2   r113.0   r111.7    r85.8   r109.4
           II   r127.8   r151.3     118.4    141.8     113.1    r111.0   r110.7   r110.9    r94.5   r109.4
          III   r129.1   r152.2     117.9    142.7     113.3    r110.6   r110.0   r110.5   r100.3   r109.5
           IV   r130.1   r153.0     117.6    143.2     113.1    r110.1   r109.6   r110.0   r111.2   r110.1

       ANNUAL   r128.2   r151.5     118.1    142.0     113.0    r110.7   r110.8   r110.7    r98.0   r109.6

  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2002      I     r5.0      2.9      -2.0      2.3       0.8      -2.6     -9.0     -4.4    r66.8     -0.8
           II      6.1      5.6      -0.5      5.1       1.7     r-0.9     -7.9     -2.9     46.9      0.1
          III      3.9      2.3      -1.5      2.6       0.5      -1.2     -2.4    r-1.6     27.0      0.5
           IV      3.2      2.0      -1.2      1.3      -0.7     r-1.9    r-1.6    r-1.8    r50.9     r1.9

       ANNUAL      3.8      0.9      -2.8      3.4       1.8      -0.4     -1.6     -0.7     19.2      0.6

  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2002      I      2.8     -1.7      -4.4      3.4       2.2       0.6      3.5      1.4     -1.9     r1.2
           II      3.5      0.2      -3.2      3.7       2.4      r0.2    r-0.8     -0.1      8.7      0.5
          III      4.4      1.9      -2.4      3.5       1.9      -0.8     -3.5    r-1.5     27.0      0.3
           IV      4.5      3.2      -1.3      2.8       0.6      -1.7    r-5.3    r-2.7     47.2      0.4

       ANNUAL      3.8      0.9      -2.8      3.4       1.8      -0.4     -1.6     -0.7     19.2      0.6

  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        February 2, 2006
  r=revised                                                               Source: Bureau of Labor Statistics