USDL 02-469
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 8:30 A.M. EDT,
FRIDAY, AUGUST 9, 2002.
                       
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  information:         (202) 691-5606
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                           PRODUCTIVITY AND COSTS
                             Second Quarter 2002
                                      
                                      
     The Bureau of Labor Statistics of the U.S. Department of Labor reported
preliminary productivity data--as measured by output per hour of all persons--
for the second quarter of 2002.  The preliminary seasonally adjusted annual
rates of productivity change in the second quarter were:

               1.4 percent in the business sector and
               1.1 percent in the nonfarm business sector.

In the business sector, productivity grew as hours dropped 1.1 percent and
output edged up 0.3 percent.  A similar pattern occurred in nonfarm
businesses, where hours fell 0.7 percent as output grew 0.5 percent.

     In manufacturing, the preliminary productivity changes in the second
quarter were:
               4.9 percent in manufacturing,
               7.0 percent in durable goods manufacturing, and
               2.9 percent in nondurable goods manufacturing.

Manufacturing productivity grew 4.9 percent in the second quarter, compared
with a 9.7-percent rise (as revised) in the first quarter.  Output rose 4.1
percent in the second quarter of 2002 and hours of all persons fell 0.8
percent.  Output and hours in manufacturing, which includes about 16 percent
of U.S. business-sector employment, tend to vary more from quarter to quarter
than data for the more aggregate business and nonfarm business sectors.
Second-quarter measures are summarized in table A and appear in detail in
tables 1 through 5.


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The  data  in  this  release  reflect the regular  multi-year  GDP  revisions
released  by  the  Bureau  of Economic Analysis of  the  U.S.  Department  of
Commerce on July 31.  They also reflect the annual benchmark revision to  the
BLS  establishment survey data and revisions to hours series released by  BLS
on  June  7.  All employment and hours series incorporate new information  on
seasonal  patterns.  See Revised Measures.  Appendix tables 1-6 show  revised
historical series.
-----------------------------------------------------------------------------


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Table A. Productivity and costs: Preliminary second-quarter 2002 measures
(Seasonally adjusted annual rates)
-------------------------------------------------------------------------                                                                    
                                                         Real      
                                                Hourly   hourly    Unit
                  Produc-                       compen-  compen-   labor
Sector            tivity    Output    Hours     sation   sation    costs
-------------------------------------------------------------------------                   
                      Percent change from preceding quarter
Business           1.4       0.3       -1.1      3.9      0.5       2.4
Nonfarm business   1.1       0.5       -0.7      3.6      0.2       2.4
Manufacturing      4.9       4.1       -0.8      3.0     -0.4      -1.8
  Durable          7.0       6.1       -0.8      2.8     -0.6      -3.9
  Nondurable       2.9       1.9       -0.9      3.5      0.1       0.6
-------------------------------------------------------------------------
                      Percent change from same quarter a year ago
Business           4.7       2.2       -2.5      2.5      1.2      -2.2
Nonfarm business   4.7       2.1       -2.5      2.4      1.1      -2.2
Manufacturing      5.3      -1.1       -6.1      3.4      2.1      -1.8
  Durable          6.2      -1.7       -7.5      3.5      2.2      -2.5
  Nondurable       3.9      -0.3       -4.0      3.5      2.2      -0.3
-------------------------------------------------------------------------
     
     
     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.

Business

     From the first quarter to the second quarter of 2002, business sector
output per hour increased at a 1.4-percent annual rate.  Output rose 0.3
percent and hours of all persons engaged in the sector fell 1.1 percent
(seasonally adjusted annual rates).  As revised, labor productivity grew 8.3
percent in the first quarter of 2002, when output increased 5.9 percent and
hours decreased 2.2 percent (table 1).

     Hourly compensation increased 3.9 percent in the second quarter and 3.8
percent in the first quarter of 2002 (seasonally adjusted annual rates).
This measure includes wages and salaries; vacation and other paid leave;
bonuses, stock options, and other supplements; employer contributions to
employee benefit plans; and taxes.  Real hourly compensation, which takes
into account changes in consumer prices, rose at a 0.5-percent annual rate
during the second quarter of 2002, after rising 2.3 percent during the
previous quarter.

     Unit labor costs, which reflect changes in both hourly compensation and
productivity, increased 2.4 percent during the second quarter of 2002.  These
costs had fallen 4.2 percent in the first quarter.  The implicit price
deflator for the business sector, which reflects changes in unit labor costs
and unit nonlabor payments, increased 0.6 percent in the second quarter and
0.3 percent in the first quarter of 2002.

Nonfarm business

     Productivity increased 1.1 percent in the nonfarm business sector during
the second quarter of 2002, as output edged up 0.5 percent and hours of all
persons declined 0.7 percent (seasonally adjusted annual rates).  Output
per hour grew at an 8.6 percent annual rate in the first quarter of 2002, as
output increased 6.2 percent and hours decreased 2.2 percent (table 2). The
first-quarter productivity gain was the largest in this sector since the
second quarter of 1983, when output per hour increased 9.9 percent.

     Hourly compensation in the nonfarm business sector increased 3.6 percent
in both the first and second quarters of 2002.  When the rise in consumer
prices is taken into account, real hourly compensation for the second quarter
of 2002 rose 0.2 percent.

     Unit labor costs increased 2.4 percent in the second quarter of 2002,
after falling 4.6 percent during the first quarter.  The implicit price
deflator for nonfarm business output grew 1.4 percent in the second quarter
and declined 0.2 percent in the first quarter of 2002.

Manufacturing

     Productivity increased 4.9 percent in manufacturing, as output grew 4.1
percent and hours of all persons declined 0.8 percent (seasonally adjusted
annual rates).  In the previous quarter, productivity rose 9.7 percent,
reflecting an increase of 3.0 percent in output and a drop of 6.1 percent in
hours.  Growth in second-quarter productivity differed in the durable and
nondurable goods sectors.  In durable goods, productivity rose 7.0 percent as
output rose 6.1 percent and hours of all persons fell 0.8 percent.  The drop
in hours reflected an employment decline of 1.8 percent and a rise of 1.0
percent in average weekly hours at work.   In nondurable goods, second-
quarter productivity increased by 2.9 as output grew 1.9 percent and hours
declined 0.9 percent (tables 3, 4, and 5).

     Hourly compensation of all manufacturing workers increased 3.0 percent
during the second quarter, reflecting growth of 2.8 percent in durable goods
and 3.5 percent in nondurable goods.  When the increase in consumer prices is
taken into account, the real hourly compensation of all manufacturing workers
declined 0.4 percent in the second quarter, after rising 5.4 percent in the
first quarter.

     Unit labor costs in manufacturing dropped 1.8 percent in the second
quarter, marking the fourth consecutive decline in the series.  Reflecting
the differing growth rates in productivity and hourly compensation in the
second quarter, unit labor costs grew dissimilarly in the two manufacturing
sectors.  Unit labor costs fell 3.9 percent in durable goods manufacturing
and rose 0.6 percent in nondurable goods manufacturing.  The change in unit
labor costs is roughly equal to the change in hourly compensation less the
change in productivity.

Revised Measures

     Current and previous measures for the first quarter of 2002 for the
business, nonfarm business, and manufacturing sectors are compared in 
table B.  In the business and nonfarm business sectors, productivity, output, 
and hours movements were similar to those reported on May 31.  Hourly
compensation grew more, and unit labor costs fell less, than reported on 
May 31, based on information then available.  In manufacturing, productivity
growth was slightly higher, primarily as a result of a downward revision to
hours.  Unit labor costs fell considerably less than originally reported,
reflecting a sharp upward revision to hourly compensation.


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Table B. Previous and revised productivity and related measures
Quarterly percent changes at seasonally adjusted annual rates
-----------------------------------------------------------------------                                                                  
                                                        Real      
                                               Hourly   hourly    Unit
                   Produc-                     compen-  compen-   labor
Sector             tivity   Output    Hours    sation   sation    costs
-----------------------------------------------------------------------                                                                  
                             First quarter 2002
Business:                                                         
  Previous         8.3      6.2       -2.0     2.9      1.4       -5.0
  Current          8.3      5.9       -2.2     3.8      2.3       -4.2
Nonfarm business:                                                 
  Previous         8.4      6.1       -2.1     2.8      1.4       -5.2
  Current          8.6      6.2       -2.2     3.6      2.2       -4.6
Manufacturing:                                                    
  Previous         9.4      2.9       -5.9     2.4      1.0       -6.4
  Current          9.7      3.0       -6.1     6.9      5.4       -2.6
-----------------------------------------------------------------------

     
     Current and previous changes in the annual measures for the business,
nonfarm business, and manufacturing sectors are compared in table C.  Output
data for the business and nonfarm business sectors and the compensation
series for all sectors incorporate the revisions of the national income and
product accounts produced by the Bureau of Economic Analysis, U.S. Department
of Commerce.  Labor input measures have been revised to reflect the annual
benchmarking of employment levels derived from the monthly Current Employment
Statistics (CES) program that occurred on June 7.  Updated seasonal
adjustment factors also have been incorporated into the labor input measures
beginning in 1997.  Appendix tables 1-6 present quarterly and annual measures
for all sectors for 1997-99.

     Revised measures of real output for the manufacturing, durable
manufacturing, and nondurable manufacturing sectors are now available.  These
measures incorporate the results of the 2000 Annual Survey of Manufactures
(ASM).  Manufacturing output data for earlier years reflect a number of
revisions to data from the ASM and other series, including industry price
indexes.  In addition, methods used to estimate the intra-sector flows of
output have been improved.  Updated measures of multifactor productivity for
manufacturing industries through 2000 will be available later.

     In the business and nonfarm business sectors, productivity was revised
down in both 2000 and 2001.  Both output and hours of all persons were
revised downward, with the revisions in output being larger than those in
hours.  In 2000, upward revisions in compensation, combined with the lower
productivity, resulted in higher unit labor costs in both sectors than before
the revisions.  In 2001, however, unit labor costs in the business and
nonfarm business sectors were revised down, as the lower productivity rates
were more than offset by sharp downward revisions to hourly compensation.

     In manufacturing, output and productivity were revised down in 1998,
2000, and 2001.  As a result, unit labor costs were revised up in 1998 and
2000, but, in 2001, sharply lower estimates of hourly compensation more than
offset the small downward revision to productivity and unit labor costs were
lower than previously reported.  Output and productivity were revised up for
1999, resulting in a downward revision in unit labor costs.

     The downward revisions to productivity in 2000 and 2001 lowered the 1990-
2001 average annual rate of growth in both the business and the nonfarm
business sectors by 0.1 percentage point.  For the business sector,
productivity increased 2.0 percent a year over the past decade--substantially
faster than the 1.5-percent growth rate for the 1973-90 period.  In nonfarm
businesses, productivity grew 1.9 percent a year between 1990 and 2001, up
from 1.3 percent between 1973 and 1990.  In manufacturing, the rate of growth
between 1990 and 2001 was reduced by 0.2 percentage point, to 3.5 percent per
year, up from the 2.5 percent annual rate of growth in the 1973-90 period.


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Effective with the release of preliminary third-quarter 2002 data on Nov.  7,
BLS  will  begin to issue revised measures for hourly compensation  and  unit
labor  costs for the previous two quarters.  This revision practice  will  be
followed whenever preliminary quarterly estimates are first announced.   This
change  is  in  accordance with the announcement by the  Bureau  of  Economic
Analysis  of  their  new revision schedule for wage  and  salary  data.   See
"National Income and Product Accounts" (BEA 02-23), released July 31.
-----------------------------------------------------------------------------
    
    
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Table C. Previous and revised productivity and related measures
Annual percent changes
-----------------------------------------------------------------------                                                                  
                                                       Real      
                                              Hourly   hourly    Unit
                  Produc-                     compen-  compen-   labor
Sector            tivity   Output    Hours    sation   sation    costs
-----------------------------------------------------------------------                                                                  
                           Annual average 2001
Business:                                                         
  Previous         2.0      0.9       -1.0     6.0      3.1       3.9
  Current          1.1     -0.2       -1.3     2.9      0.2       1.8
Nonfarm business:                                                 
  Previous         1.9      0.9       -0.9     5.8      2.9       3.8
  Current          1.1     -0.1       -1.2     2.7     -0.1       1.6
Manufacturing:                                                    
  Previous         1.1     -4.2       -5.3     7.3      4.4       6.1
  Current          0.9     -4.8       -5.6     1.5     -1.2       0.6
                           Annual average 2000
Business:                                                         
  Previous         3.4      4.6       1.1      6.4      3.0       2.9
  Current          3.0      4.1       1.0      6.8      3.4       3.7
Nonfarm business:                                                 
  Previous         3.3      4.5       1.1      6.5      3.1       3.1
  Current          2.9      4.0       1.0      7.0      3.5       3.9
Manufacturing:                                                    
  Previous         6.1      4.6      -1.4      7.0      3.6       0.9
  Current          4.1      2.5      -1.5      7.4      3.9       3.2
                           Annual average 1999
Business:                                                         
  Previous         2.5      4.6       2.0      4.6      2.4       2.0
  Current          2.6      4.7       2.0      4.6      2.4       1.9
Nonfarm business:                                                 
  Previous         2.3      4.6       2.2      4.4      2.2       2.0
  Current          2.4      4.6       2.2      4.4      2.2       2.0
Manufacturing:                                                    
  Previous         4.5      3.7      -0.8      4.0      1.9      -0.5
  Current          5.1      4.3      -0.8      4.0      1.8      -1.1
                           Annual average 1998
Manufacturing:                                                    
  Previous         5.4      5.1      -0.2      5.4      3.9       0.0
  Current          4.9      4.7      -0.2      5.3      3.9       0.4
-----------------------------------------------------------------------
     
     
Revised measures: Nonfinancial Corporations

     Productivity and cost measures for the first quarter for nonfinancial
corporations also were revised to incorporate more recent information than
was available on May 31.  Productivity was revised down, reflecting the
downward revision to output.  Unit labor costs showed less of a decline than
originally reported, reflecting the lower productivity growth and an upward
revision to hourly compensation.  Unit profits were revised down to show a
slight decline; they had originally showed an increase (table D).


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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
-------------------------------------------------------------------------------
                            First quarter 2002
Previous    6.7      5.4     -1.2    3.6      2.1     -2.9    15.5     -0.8
Current     5.1      3.7     -1.3    4.1      2.6     -0.9    -0.6     -0.8
-------------------------------------------------------------------------------
                                      
                                      
                              Next release date
                                      
     The next release of Productivity and Costs is scheduled for 8:30 a.m.
EDT, Thursday, Sept. 5, 2002.  Revised second-quarter measures for business,
nonfarm business, and manufacturing will be released at that time, along with
preliminary measures for nonfinancial corporations.


                                      
                               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.   The
Office of Productivity and Technology estimates average weekly paid hours  of
nonproduction  and supervisory workers.  Weekly paid hours  are  adjusted  to
hours at work using the BLS Hours at Work survey, conducted for this purpose.
      Data  from  the BLS Current Population Survey (CPS) are used  for  farm
labor; in the nonfarm sector, the National Income and Product Accounts (NIPA)
prepared  by  the  Bureau of Economic Analysis (BEA)  of  the  Department  of
Commerce  and  the  CPS  are  used  to measure  labor  input  for  government
enterprises, proprietors, and unpaid family workers.

Output: Business sector output is an annual-weighted index constructed  after
excluding  from  gross domestic product (GDP) the following outputs:  General
government, nonprofit institutions, paid employees of private households, and
the  rental value of owner-occupied dwellings. Corresponding exclusions  also
are  made in labor inputs. Business output accounted for about 77 percent  of
the  value  of  GDP  in 1996. Nonfarm business, which also excludes  farming,
accounted for about 76 percent of GDP in 1996.
      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 2-digit SIC industries: Primary  metal
industries;  fabricated metal products; nonelectrical  machinery;  industrial
and  commercial  machinery  and  computer  equipment;  electronic  and  other
electrical  equipment;  transportation  equipment;  instruments;  lumber  and
lumber  products; furniture and fixtures; stone, clay, and glass and concrete
products;  and  miscellaneous  manufactures. Nondurables  include:  Food  and
kindred  products, tobacco products, textile mill products, apparel products,
paper  and  allied products, printing and publishing, chemicals and  chemical
products,  petroleum  refining  and related industries,  rubber  and  plastic
products, and leather and leather products.
      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; employees of private households; the rental value  of
owner-occupied  dwellings; unincorporated business;  and  those  corporations
which  are depository institutions, nondepository institutions, security  and
commodity  brokers, insurance carriers, regulated investment  offices,  small
business  investment offices, and real estate investment trusts. Nonfinancial
corporations accounted for about 53 percent of the value of GDP in 1996.

Productivity:  These productivity measures describe the relationship  between
real  output  and the labor time involved in its production.  They  show  the
changes  from  period to period in the amount of goods and services  produced
per  hour.  Although these measures relate output to hours  at  work  of  all
persons engaged in a sector, they do not measure the specific contribution of
labor,  capital, or any other factor of production. Rather, they reflect  the
joint  effects  of many influences, including changes in technology;  capital
investment; level of output; utilization of capacity, energy, and  materials;
the organization of production; managerial skill; and the characteristics and
effort of the work force.

      Information  in this release will be made available to sensory-impaired
individuals  upon request. Voice phone: 202-691-5200; 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

  2000       I     115.3     r138.4    r120.1    r131.4      r110.5     r114.0      r110.7     r112.8
            II    r117.2     r140.3    r119.7    r132.4      r110.5     r113.0      r114.1     r113.4
           III    r117.3     r140.4    r119.7    r135.0      r111.7     r115.1      r111.2     r113.7
            IV    r117.9     r140.7    r119.4    r136.3      r111.9     r115.6       112.0     r114.3

        ANNUAL    r116.9     r140.0    r119.7    r133.8      r111.2     r114.4      r112.0     r113.5

  2001       I    r117.5     r140.4    r119.5    r137.3      r111.8     r116.9      r112.3      115.2
            II    r117.4     r139.4    r118.7    r137.5      r111.0     r117.1      r113.6     r115.8
           III    r117.9     r139.1    r117.9    r137.8      r111.1     r116.8      r115.5     r116.4
            IV    r120.1     r140.3    r116.8    r138.3      r111.6     r115.1      r117.2      115.9

        ANNUAL    r118.2     r139.8    r118.2    r137.7      r111.4     r116.5      r114.7      115.8

  2002       I    r122.5     r142.3    r116.1    r139.6      r112.2     r113.9      r119.6     r116.0
            II     123.0      142.4     115.8     140.9       112.3      114.6       118.9      116.2
  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2000       I      r0.3        2.2      r1.9     r14.7       r10.3      r14.4      r-15.1       r2.4
            II      r6.7       r5.4     r-1.2      r3.0        r0.0      r-3.5       r12.9       r2.2
           III      r0.4       r0.4      r0.0      r8.3        r4.6       r7.8       r-9.6       r1.1
            IV      r2.1       r0.9     r-1.2      r3.7        r0.7       r1.6        r2.6       r1.9

        ANNUAL      r3.0       r4.1      r1.0      r6.8        r3.4       r3.7       r-1.7       r1.7

  2001       I     r-1.5      r-1.0      r0.4      r3.1       r-0.6       r4.7        r1.1       r3.4
            II     r-0.2      r-2.8     r-2.6      r0.5       r-2.6       r0.7        r4.9       r2.2
           III      r1.8      r-0.9     r-2.6      r0.9        r0.2      r-0.9        r6.8       r1.8
            IV      r7.6       r3.5     r-3.9      r1.4        r1.7      r-5.8        r6.1      r-1.6

        ANNUAL      r1.1      r-0.2     r-1.3      r2.9        r0.2       r1.8        r2.4       r2.0

  2002       I       8.3       r5.9     r-2.2      r3.8        r2.3      r-4.2        r8.3       r0.3
            II       1.4        0.3      -1.1       3.9         0.5        2.4        -2.3        0.6
  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2000       I       2.3       r4.6       2.3      r5.9        r2.5       r3.5       r-2.0       r1.4
            II      r4.1       r5.4      r1.3      r6.5        r3.1       r2.3        r0.8       r1.7
           III      r3.3       r4.1      r0.7      r7.7        r4.1       r4.3       r-2.5       r1.7
            IV      r2.4       r2.2     r-0.1      r7.3        r3.8        4.9       r-2.9       r1.9

        ANNUAL      r3.0       r4.1      r1.0      r6.8        r3.4       r3.7       r-1.7       r1.7

  2001       I      r1.9       r1.4     r-0.5      r4.5        r1.2       r2.6        r1.4       r2.2
            II      r0.2      r-0.7     r-0.9      r3.9        r0.5       r3.6       r-0.4       r2.1
           III      r0.5      r-1.0     r-1.5      r2.0       r-0.6       r1.5        r3.8       r2.3
            IV      r1.9      r-0.3     r-2.2      r1.5       r-0.3      r-0.4        r4.7       r1.4

        ANNUAL      r1.1      r-0.2     r-1.3      r2.9        r0.2       r1.8        r2.4       r2.0

  2002       I      r4.3       r1.4      -2.8      r1.6        r0.4      r-2.6        r6.5       r0.7
            II       4.7        2.2      -2.5       2.5         1.2       -2.2         4.6        0.3
  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2002
  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

  2000       I    r114.7     r138.7     120.9    r130.8      r110.0     r114.0      r112.3     r113.4
            II    r116.4     r140.5    r120.7    r131.5      r109.8     r113.0      r115.6     r113.9
           III    r116.6     r140.6    r120.6    r134.3      r111.1     r115.2      r112.8     r114.3
            IV    r117.1     r141.0    r120.4    r135.3      r111.2     r115.6       113.4     r114.8

        ANNUAL    r116.2     r140.2    r120.6    r133.0      r110.6     r114.4      r113.5     r114.1

  2001       I    r116.7     r140.7    r120.6    r136.3      r110.9     r116.8      r113.8      115.7
            II    r116.6     r139.7    r119.8    r136.3      r110.1     r116.9      r115.3     r116.3
           III    r117.2     r139.4    r118.9    r136.7      r110.2     r116.6      r117.2     r116.8
            IV    r119.3     r140.4    r117.7    r137.2      r110.7     r115.0      r119.2      116.5

        ANNUAL    r117.5     r140.1    r119.2    r136.6      r110.5     r116.3      r116.4     r116.3

  2002       I    r121.8     r142.5    r117.0    r138.4      r111.3     r113.6      r121.3     r116.4
            II     122.1      142.7     116.8     139.6       111.3      114.3       121.2      116.8
  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2000       I      r0.2       r1.9      r1.7     r15.2       r10.7      r14.9      r-15.3       r2.7
            II      r6.0       r5.4     r-0.6      r2.2       r-0.7      r-3.6       r12.2       r1.9
           III      r0.6       r0.2     r-0.4      r8.7        r4.9       r8.0       r-9.1       r1.4
            IV      r1.7       r1.1     r-0.6      r3.1        r0.2       r1.4        r2.1       r1.6

        ANNUAL      r2.9       r4.0      r1.0      r7.0        r3.5       r3.9       r-1.7       r1.8

  2001       I     r-1.5      r-0.9      r0.5      r2.8       r-0.9       r4.3        r1.5       r3.3
            II     r-0.1      r-2.7     r-2.6      r0.1       r-2.9       r0.3        r5.1       r2.0
           III      r2.1      r-0.8     r-2.9      r1.0        r0.3      r-1.1        r6.8        1.7
            IV      r7.3       r2.9     r-4.1      r1.5        r1.8      r-5.4        r6.9      r-1.0

        ANNUAL      r1.1      r-0.1     r-1.2      r2.7       r-0.1       r1.6        r2.5       r1.9

  2002       I      r8.6       r6.2     r-2.2      r3.6        r2.2      r-4.6        r7.5      r-0.2
            II       1.1        0.5      -0.7       3.6         0.2        2.4        -0.3        1.4
  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2000       I      r2.3       r4.5      r2.1      r6.2        r2.8       r3.7       r-1.8       r1.7
            II      r4.0       r5.4      r1.3      r6.6        r3.2       r2.5        r0.7       r1.8
           III      r3.3       r3.9      r0.6      r7.9        r4.3       r4.5       r-2.6       r1.8
            IV      r2.1       r2.2      r0.0      r7.2        r3.7       r4.9       r-3.1       r1.9

        ANNUAL      r2.9       r4.0      r1.0      r7.0        r3.5       r3.9       r-1.7       r1.8

  2001       I      r1.7       r1.4     r-0.3      r4.2        r0.9       r2.4        r1.4       r2.1
            II      r0.2      r-0.6     r-0.8      r3.6        r0.3       r3.5       r-0.3       r2.1
           III      r0.5      r-0.8     r-1.4      r1.8       r-0.8       r1.2        r3.9       r2.2
            IV      r1.9      r-0.4     r-2.3      r1.4       r-0.4      r-0.5        r5.1       r1.5

        ANNUAL      r1.1      r-0.1     r-1.2      r2.7       r-0.1       r1.6        r2.5       r1.9

  2002       I      r4.4       r1.3      -2.9      r1.6        r0.3      r-2.7        r6.6       r0.6
            II       4.7        2.1      -2.5       2.4         1.1       -2.2         5.2        0.5
  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2002
  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

  2000       I           r133.6       r138.3        103.5       r131.4         r110.5         r98.4
            II           r134.9       r139.8       r103.6       r129.3         r107.9         r95.9
           III           r135.4       r139.3       r102.9       r132.2         r109.4         r97.7
            IV           r135.9       r137.6        101.3       r131.5         r108.0         r96.7

        ANNUAL           r134.9       r138.7       r102.8       r131.1         r109.0         r97.2

  2001       I           r135.4       r135.1        r99.8       r132.0         r107.4         r97.5
            II           r135.4       r133.0        r98.2       r133.0         r107.4         r98.2
           III           r136.4       r131.3        r96.3       r133.3         r107.5         r97.8
            IV           r137.6       r129.2        r93.9       r134.3         r108.3         r97.6

        ANNUAL           r136.2       r132.1        r97.1       r133.1         r107.7         r97.8

  2002       I           r140.9       r130.2        r92.4       r136.5         r109.8         r96.9
            II            142.6        131.5         92.2        137.5          109.7          96.5
  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I             r4.5         r2.7        r-1.7        r25.3          r20.5         r19.9
            II             r3.8         r4.4         r0.5        r-6.3          r-9.0         r-9.7
           III             r1.6        r-1.3         -2.8         r9.5           r5.8          r7.8
            IV             r1.6        r-4.8        r-6.3        r-2.3          r-5.1         r-3.8

        ANNUAL             r4.1         r2.5        r-1.5         r7.4           r3.9          r3.2

  2001       I            r-1.5         -7.1        r-5.6         r1.6          r-2.1          r3.1
            II             r0.0         -6.2        r-6.2         r3.1          r-0.1          r3.1
           III             r2.9         -4.9        r-7.6         r1.0           r0.3         r-1.9
            IV             r3.8         -6.3        r-9.7         r2.9           r3.2         r-0.9

        ANNUAL             r0.9        r-4.8        r-5.6         r1.5          r-1.2          r0.6

  2002       I             r9.7         r3.0        r-6.1         r6.9           r5.4         r-2.6
            II              4.9          4.1         -0.8          3.0           -0.4          -1.8
  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I             r4.4         r3.6         -0.8         r8.9           r5.5          r4.3
            II             r4.7         r3.8        r-0.8         r6.9           r3.5          r2.1
           III             r4.3         r2.6        r-1.7         r7.9           r4.3          r3.4
            IV             r2.9         r0.2        r-2.6         r5.9           r2.4          r2.9


        ANNUAL             r4.1         r2.5        r-1.5         r7.4           r3.9          r3.2

  2001       I             r1.3        r-2.3        r-3.6         r0.5          r-2.7         r-0.9
            II             r0.4        r-4.9        r-5.2         r2.9          r-0.5          r2.5
           III             r0.7        r-5.7        r-6.4         r0.8          r-1.8          r0.1
            IV             r1.3         -6.1        r-7.3         r2.1           r0.3          r0.8

        ANNUAL             r0.9        r-4.8        r-5.6         r1.5          r-1.2          r0.6

  2002       I              4.0         -3.7         -7.4         r3.4           r2.2         r-0.6
            II              5.3         -1.1         -6.1          3.4            2.1          -1.8
  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2002
  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

  2000       I           r148.6       r162.9        109.7       r130.8         r109.9         r88.0
            II           r150.0       r165.2       r110.2       r127.5         r106.4         r85.0
           III           r150.3       r164.6       r109.5       r130.6         r108.0         r86.9
            IV           r150.1       r162.0       r107.9       r128.4         r105.5         r85.5

        ANNUAL           r149.7       r163.7       r109.3       r129.3         r107.5         r86.4

  2001       I           r149.0       r157.9       r106.0       r129.4         r105.3         r86.8
            II           r149.1       r155.3       r104.1       r130.5         r105.4         r87.5
           III           r150.1       r152.2       r101.4       r130.2         r105.0         r86.7
            IV           r150.9       r148.6        r98.5       r131.8         r106.3         r87.3

        ANNUAL           r149.8       r153.5       r102.5       r130.4         r105.5         r87.1

  2002       I           r155.7       r150.3        r96.5       r134.2         r107.9         r86.2
            II            158.3        152.6         96.4        135.1          107.7          85.3
  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I             r7.6         r6.3        r-1.2        r29.7          r24.6         r20.5
            II             r3.9         r5.8         r1.8        r-9.6         r-12.1        r-13.0
           III             r0.8        r-1.6        r-2.3         r9.9           r6.1          r9.1
            IV            r-0.6        r-6.2        r-5.7        r-6.5          r-9.2         r-6.0

        ANNUAL             r4.4         r3.6        r-0.7         r7.7           r4.2          r3.2

  2001       I            r-3.0         -9.7        r-6.9         r3.1          r-0.6          r6.2
            II             r0.4         -6.5        r-6.9         r3.6           r0.4          r3.2
           III             r2.7         -7.6       r-10.0        r-1.0          r-1.7         r-3.6
            IV             r2.3         -9.2       r-11.2         r5.0           r5.4          r2.7

        ANNUAL             r0.0        r-6.2        r-6.2         r0.9          r-1.9          r0.8

  2002       I            r13.2         r4.7         -7.5         r7.5           r6.0         r-5.0
            II              7.0          6.1         -0.8          2.8           -0.6          -3.9
  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I             r5.2         r5.1         -0.1        r10.5           r7.0          r5.0
            II             r5.1         r5.3         r0.2         r7.4           r4.0          r2.2
           III             r4.3         r3.2        r-1.1         r8.1           r4.5          r3.6
            IV             r2.9         r1.0        r-1.9         r4.8           r1.4          r1.8

        ANNUAL             r4.4         r3.6        r-0.7         r7.7           r4.2          r3.2

  2001       I             r0.3        r-3.1        r-3.3        r-1.1          r-4.2         r-1.3
            II            r-0.6        r-6.0        r-5.5         r2.3          r-1.0          r3.0
           III            r-0.1        r-7.5        r-7.4        r-0.3          r-2.8         r-0.2
            IV             r0.6         -8.2        r-8.8         r2.6           r0.8          r2.1

        ANNUAL             r0.0        r-6.2        r-6.2         r0.9          r-1.9          r0.8

  2002       I             r4.5         -4.8        r-8.9         r3.7           r2.5         r-0.8
            II              6.2         -1.7         -7.5          3.5            2.2          -2.5
  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2002
  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

  2000       I            120.6       r114.9         95.3       r130.6         r109.8        r108.3
            II           r121.8       r115.6        r95.0       r130.4         r108.9        r107.1
           III            122.6        115.4        r94.1       r133.2         r110.2        r108.7
            IV           r123.9       r114.5         92.4       r135.0         r110.9        r108.9

        ANNUAL            122.2       r115.1         94.2       r132.3         r110.0        r108.3

  2001       I           r123.9       r113.4        r91.6       r134.7         r109.7        r108.7
            II           r123.6       r111.7        r90.4       r135.5         r109.4        r109.6
           III           r124.4       r111.3        r89.5       r137.2         r110.6        r110.3
            IV           r125.9       r110.5        r87.8       r137.1         r110.6        r108.9

        ANNUAL           r124.4       r111.7        r89.8       r136.1         r110.1        r109.4

  2002       I           r127.5       r110.8        r86.9       r139.1         r111.8        r109.1
            II            128.4        111.4         86.7        140.3          111.9         109.3
  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I             r0.8        r-1.8        r-2.5        r17.8          r13.3         r17.0
            II             r3.8         r2.4        r-1.4        r-0.5          r-3.4         r-4.2
           III             r2.6         -0.9        r-3.5         r8.7           r4.9          r5.9
            IV             r4.6        r-3.0        r-7.2         r5.6           r2.5          r0.9

        ANNUAL              3.8          1.1         -2.6         r6.7           r3.3          r2.9

  2001       I            r-0.1         -3.7        r-3.6        r-0.8          r-4.4         r-0.7
            II            r-0.9         -5.9        r-5.0         r2.3          r-0.8          r3.2
           III             r2.5         -1.5        r-3.8         r5.1           r4.4          r2.5
            IV             r4.9         -2.9        r-7.4        r-0.3           r0.0         r-5.0

        ANNUAL             r1.8         -2.9        r-4.7         r2.9           r0.1          r1.0

  2002       I             r5.3         r1.2        r-3.9         r6.1           r4.6          r0.8
            II              2.9          1.9         -0.9          3.5            0.1           0.6
  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I             r3.4          1.6         -1.8         r6.1           r2.8          r2.6
            II              4.4         r1.8        r-2.5          5.8           r2.5           1.4
           III              4.4         r1.7         -2.5         r7.4           r3.8          r2.9
            IV             r2.9        r-0.8        r-3.7         r7.7           r4.2          r4.6

        ANNUAL              3.8          1.1         -2.6         r6.7           r3.3          r2.9

  2001       I             r2.7         -1.3        r-3.9         r3.1          r-0.1          r0.4
            II             r1.5        r-3.4        r-4.8         r3.9           r0.5          r2.3
           III             r1.5         -3.5        r-4.9         r3.0           r0.4          r1.5
            IV             r1.6         -3.5        r-5.0         r1.5          r-0.3          r0.0

        ANNUAL             r1.8         -2.9        r-4.7         r2.9           r0.1          r1.0

  2002       I             r2.9         -2.3        r-5.0         r3.2           r2.0          r0.3
            II              3.9         -0.3         -4.0          3.5            2.2          -0.3
  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2002
  r=revised                                                       Source: Bureau of Labor Statistics

  Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits,
  and prices, seasonally adjusted
 
                Output                      Hourly    Real                Unit     Total    Unit   Implicit
      Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
      and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
      quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
  ----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2000       I   r116.7   r146.0     125.1   r126.9    r106.7    r108.7   r105.4   r107.8   r120.5    108.9
            II   r116.8   r146.0    r125.0   r127.8    r106.6    r109.4   r107.7   r108.9   r120.4   r109.9
           III   r117.6   r146.9    r125.0   r130.4    r107.9    r110.9   r108.9   r110.4   r111.4    110.5
            IV   r117.3   r146.4    r124.8   r131.7    r108.2    r112.2   r111.0   r111.9   r100.4    110.9

        ANNUAL   r117.1   r146.3    r125.0   r129.2    r107.4    r110.3   r108.3   r109.8   r113.2    110.0

  2001       I   r116.6   r145.2    r124.6   r131.3    r106.9    r112.6   r113.7   r112.9    r94.9    111.4
            II   r117.3   r145.1    r123.7   r131.9    r106.5    r112.5   r115.6   r113.3    r97.2    112.0
           III   r118.2   r145.0    r122.7   r132.7    r107.0    r112.3   r117.6   r113.7    r99.7   r112.5
            IV   r121.3   r146.9    r121.2   r133.6    r107.8    r110.2   r116.2   r111.8   r109.6   r111.6

        ANNUAL   r118.3   r145.6    r123.0   r132.4    r107.0    r111.9   r115.8   r112.9   r100.3   r111.9

  2002       I   r122.8   r148.3    r120.8   r134.9    r108.5    r109.9   r116.0   r111.6   r109.4   r111.4
  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2000       I     r5.3     r7.6      r2.3    r14.2      r9.8      r8.5     r1.3     r6.5   r-17.6     r3.9
            II     r0.3    r-0.2     r-0.4     r2.8     r-0.1      r2.6     r8.9     r4.2    r-0.5     r3.8
           III      2.6     r2.6      r0.0     r8.5      r4.7      r5.7     r4.5     r5.4   r-26.8     r2.0
            IV    r-0.7    r-1.3     r-0.5     r4.1      r1.1      r4.9     r7.8     r5.6   r-33.9     r1.7

        ANNUAL     r2.1     r3.7      r1.5     r6.7      r3.2      r4.4     r4.6     r4.5   r-14.1      2.5

  2001       I    r-2.6    r-3.2     r-0.7    r-1.2     r-4.8      r1.4    r10.1     r3.6   r-20.2     r1.6
            II     r2.3    r-0.4     r-2.7     r1.8     r-1.3     r-0.5     r7.1     r1.5    r10.0     r2.1
           III     r3.2    r-0.3     r-3.4     r2.5      r1.9     r-0.7     r7.2     r1.5    r10.7     r2.1
            IV    r10.8     r5.4     r-4.8     r2.7      r3.0     r-7.3    r-5.0    r-6.7    r46.0    r-3.3

        ANNUAL     r1.0    r-0.5     r-1.5     r2.5     r-0.3      r1.4     r6.9     r2.9   r-11.3     r1.7

  2002       I     r5.1     r3.7     r-1.3     r4.1      r2.6     r-0.9    r-0.6    r-0.8    r-0.6     -0.8
  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2000       I     r2.1     r4.8      r2.6     r5.6      r2.3      r3.4     r3.8     r3.5   r-12.1     r1.8
            II     r2.1     r4.0      r1.9     r6.2      r2.8      r4.0     r5.0     r4.3   r-11.2     r2.6
           III     r2.6     r3.8      r1.2     r7.6      r4.0      r4.9     r4.1     r4.7   r-12.9      2.9
            IV     r1.8     r2.1      r0.3     r7.3      r3.8      r5.4     r5.6     r5.4   r-20.6     r2.8

        ANNUAL     r2.1     r3.7      r1.5     r6.7      r3.2      r4.4     r4.6     r4.5   r-14.1      2.5

  2001       I    r-0.1    r-0.5     r-0.4     r3.5      r0.2      r3.6     r7.8     r4.7   r-21.3     r2.3
            II     r0.4    r-0.6     r-1.0     r3.2     r-0.1      r2.8     r7.3     r4.0   r-19.3     r1.9
           III     r0.5    r-1.3     r-1.8     r1.8     r-0.8      r1.2     r8.0     r3.1   r-10.5     r1.9
            IV     r3.3     r0.3     r-2.9     r1.4     r-0.4     r-1.8     r4.7    r-0.1     r9.1     r0.6

        ANNUAL     r1.0    r-0.5     r-1.5     r2.5     r-0.3      r1.4     r6.9     r2.9   r-11.3     r1.7

  2002       I     r5.3     r2.1     r-3.1     r2.8      r1.5     r-2.4      2.0    r-1.2    r15.3     r0.0
  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        August 9, 2002
  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
-1.6 and +1.7 index points approximately 95 percent of the time.  This
interval is based on the performance of this measure between the fourth
quarter of 1995 and the first quarter of 2002.



                            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 1978-2001 is based on the
     Consumer Price Index research series (CPI-U-RS).
     
 (3)  Unit nonlabor payments include profits, capital consumption allowances,
     interest, rental income of persons, and indirect taxes.
     
 (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 capital consumption allowances, interest,
     rental income of persons, and indirect taxes.  For nonfinancial
     corporations, rental income of persons is zero by definition.
     
 (7)  Total unit costs are the sum of unit labor and nonlabor costs.

 (8)  Unit profits include corporate profits with inventory valuation and
capital consumption adjustments
Appendix table 1.
  Business sector: Revised productivity, hourly compensation, unit labor costs, and prices, seasonally
  adjusted
                                                             Real
     Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
     and        hour of                of all    tion per    tion per    labor    labor pay-  price
     quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
  ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

  1997       I    106.4      119.9     112.7     112.2       100.2      105.4       115.3      109.1
            II    107.6      122.0     113.4     112.6       100.4      104.7       118.0      109.6
           III    108.5      123.5     113.8     113.8       101.0      104.9       118.4      109.9
            IV    108.6      124.4     114.6     115.5       102.0      106.4       116.7      110.2

        ANNUAL    107.8      122.5     113.6     113.5       101.0      105.3       117.1      109.7

  1998       I    110.0      126.7     115.2     117.6       103.6      106.9       116.1      110.3
            II    110.0      127.3     115.7     119.1       104.7      108.3       114.0      110.4
           III    110.6      128.7     116.3     120.5       105.5      108.9       113.7      110.7
            IV    111.8      131.3     117.4     121.7       106.1      108.8       114.2      110.8

        ANNUAL    110.6      128.5     116.2     119.7       105.0      108.2       114.5      110.6

  1999       I    112.7      132.4     117.4     124.1       107.7      110.2       112.9      111.2
            II    112.5      133.0     118.2     124.3       107.1      110.5       113.2      111.5
           III    113.6      134.9     118.8     125.4       107.3      110.4       114.1      111.8
            IV    115.2      137.7     119.5     127.0       107.8      110.2       115.3      112.1

        ANNUAL    113.5      134.5     118.5     125.2       107.6      110.3       113.9      111.6

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  1997       I      1.6        5.2       3.5       2.2        -0.1        0.5         6.0        2.6
            II      4.4        7.1       2.6       1.6         0.7       -2.7         9.5        1.9
           III      3.5        4.9       1.4       4.3         2.6        0.7         1.4        1.0
            IV      0.5        3.2       2.7       6.3         4.0        5.8        -5.7        1.1

        ANNUAL      2.3        5.2       2.9       3.1         0.9        0.8         3.4        1.8

  1998       I      5.1        7.5       2.2       7.3         6.5        2.1        -2.0        0.5
            II      0.1        1.9       1.9       5.4         4.2        5.3        -6.9        0.5
           III      2.3        4.4       2.0       4.7         3.1        2.3        -1.2        0.9
            IV      4.4        8.2       3.7       4.0         2.2       -0.4         2.0        0.5

        ANNUAL      2.6        4.9       2.2       5.5         4.0        2.8        -2.2        0.8

  1999       I      3.1        3.4       0.2       8.2         6.5        5.0        -4.5        1.3
            II     -0.6        2.1       2.7       0.5        -2.3        1.1         0.9        1.0
           III      3.8        5.9       2.0       3.7         0.8       -0.1         3.3        1.2
            IV      5.8        8.4       2.4       5.1         1.7       -0.7         4.3        1.1

        ANNUAL      2.6        4.7       2.0       4.6         2.4        1.9        -0.5        1.0

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  1997       I      1.9        5.2       3.2       3.3         0.6        1.4         2.7        1.9
            II      1.8        5.0       3.1       2.6         0.5        0.7         3.8        1.9
           III      2.8        5.7       2.8       2.8         0.8        0.0         4.5        1.8
            IV      2.5        5.1       2.5       3.6         1.8        1.1         2.7        1.7

        ANNUAL      2.3        5.2       2.9       3.1         0.9        0.8         3.4        1.8

  1998       I      3.4        5.7       2.2       4.8         3.4        1.4         0.7        1.1
            II      2.3        4.4       2.0       5.8         4.3        3.5        -3.3        0.8
           III      2.0        4.2       2.2       5.9         4.5        3.9        -4.0        0.7
            IV      3.0        5.5       2.4       5.3         4.0        2.3        -2.1        0.6

        ANNUAL      2.6        4.9       2.2       5.5         4.0        2.8        -2.2        0.8

  1999       I      2.5        4.5       1.9       5.6         4.0        3.0        -2.7        0.8
            II      2.3        4.5       2.2       4.3         2.3        2.0        -0.8        0.9
           III      2.6        4.9       2.2       4.1         1.7        1.4         0.4        1.0
            IV      3.0        4.9       1.8       4.3         1.6        1.3         0.9        1.2

        ANNUAL      2.6        4.7       2.0       4.6         2.4        1.9        -0.5        1.0

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2002
                                                                         Source: Bureau of Labor Statistics

Appendix table 2.  Nonfarm business sector: Revised productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted
                                                             Real
     Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
     and        hour of                of all    tion per    tion per    labor    labor pay-  price
     quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
  ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

  1997       I    106.2      120.2     113.1     111.8        99.8      105.2       115.9      109.1
            II    107.4      122.2     113.8     112.2       100.1      104.5       118.7      109.7
           III    108.2      123.6     114.3     113.3       100.6      104.7       119.4      110.1
            IV    108.3      124.7     115.1     115.0       101.5      106.1       117.8      110.4

        ANNUAL    107.5      122.7     114.1     113.1       100.6      105.2       118.0      109.8

  1998       I    109.6      127.0     115.9     116.9       103.0      106.7       117.3      110.5
            II    109.8      127.7     116.3     118.6       104.2      108.0       115.2      110.6

           III    110.3      129.0     117.0     119.9       105.0      108.7       114.8      111.0
            IV    111.4      131.6     118.1     121.1       105.5      108.6       115.4      111.1

        ANNUAL    110.3      128.8     116.8     119.1       104.5      108.0       115.7      110.8

  1999       I    112.1      132.7     118.4     123.2       106.9      109.9       114.3      111.5
            II    111.9      133.3     119.1     123.4       106.3      110.3       114.8      111.9
           III    112.9      135.3     119.8     124.5       106.6      110.3       115.8      112.3
            IV    114.7      138.0     120.4     126.3       107.2      110.1       117.0      112.6

        ANNUAL    112.9      134.8     119.4     124.3       106.8      110.1       115.5      112.1

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  1997       I      1.1        4.8       3.7       2.2        -0.1        1.1         6.3        3.1
            II      4.5        7.1       2.5       1.7         0.9       -2.6        10.1        2.2
           III      3.0        4.6       1.6       3.7         2.0        0.7         2.3        1.3
            IV      0.5        3.4       2.9       6.1         3.8        5.6        -5.5        1.1

        ANNUAL      2.0        5.1       3.1       3.0         0.8        0.9         3.9        2.1

  1998       I      4.9        7.8       2.8       7.0         6.2        2.0        -1.7        0.6
            II      0.6        2.1       1.4       5.8         4.6        5.1        -6.8        0.4
           III      1.9        4.3       2.4       4.6         3.0        2.7        -1.3        1.2
            IV      4.3        8.3       3.8       3.8         2.0       -0.4         2.0        0.5

        ANNUAL      2.6        5.0       2.4       5.4         3.9        2.7        -1.9        0.9

  1999       I      2.4        3.3       0.9       7.3         5.5        4.8        -3.9        1.4
            II     -0.8        1.9       2.6       0.6        -2.2        1.3         1.7        1.5
           III      3.7        6.0       2.2       3.7         0.8        0.0         3.7        1.4
            IV      6.3        8.3       1.9       5.8         2.5       -0.5         4.2        1.3

        ANNUAL      2.4        4.6       2.2       4.4         2.2        2.0        -0.2        1.2

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  1997       I      1.6        5.1       3.4       3.2         0.4        1.5         2.9        2.0
            II      1.7        5.0       3.2       2.6         0.4        0.9         4.3        2.2
           III      2.5        5.5       3.0       2.7         0.7        0.2         5.3        2.2
            IV      2.2        5.0       2.7       3.4         1.6        1.1         3.1        1.9

        ANNUAL      2.0        5.1       3.1       3.0         0.8        0.9         3.9        2.1

  1998       I      3.2        5.7       2.4       4.6         3.2        1.4         1.2        1.3
            II      2.2        4.5       2.2       5.6         4.1        3.3        -3.0        0.8
           III      2.0        4.4       2.4       5.9         4.4        3.8        -3.8        0.8
            IV      2.9        5.6       2.6       5.3         3.9        2.3        -2.0        0.7

        ANNUAL      2.6        5.0       2.4       5.4         3.9        2.7        -1.9        0.9

  1999       I      2.3        4.5       2.1       5.4         3.8        3.0        -2.5        0.9
            II      1.9        4.4       2.4       4.0         2.1        2.1        -0.4        1.1
           III      2.4        4.8       2.4       3.8         1.5        1.4         0.8        1.2
            IV      2.9        4.8       1.9       4.3         1.6        1.4         1.4        1.4

        ANNUAL      2.4        4.6       2.2       4.4         2.2        2.0        -0.2        1.2

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       August 9, 2002
                                                                         Source: Bureau of Labor Statistics

Appendix table 3.  Manufacturing sector: Revised productivity, hourly compensation, and unit labor costs,
  seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs

  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  1997       I          115.4         121.3        105.1        110.3           98.6          95.6
            II          116.4         122.8        105.5        110.6           98.6          95.0
           III          118.7         124.9        105.2        111.6           99.1          94.0
            IV          119.8         127.0        106.0        113.3          100.0          94.6

        ANNUAL          117.6         124.0        105.4        111.5           99.1          94.8

  1998       I          121.3         128.3        105.8        115.5          101.8          95.2
            II          122.3         129.0        105.5        117.0          102.8          95.7
           III          124.3         130.0        104.5        118.2          103.5          95.1
            IV          125.5         131.8        105.0        119.0          103.7          94.8

        ANNUAL          123.3         129.8        105.2        117.4          103.0          95.2

  1999       I          128.0         133.4        104.3        120.6          104.7          94.3
            II          128.8         134.6        104.5        120.9          104.2          93.9
           III          129.8         135.8        104.7        122.6          104.9          94.4
            IV          132.1         137.3        103.9        124.2          105.4          94.0

        ANNUAL          129.7         135.3        104.4        122.1          104.9          94.1

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  1997       I            3.5           6.9          3.2          0.1           -2.2          -3.3
            II            3.4           4.9          1.5          1.0            0.1          -2.4
           III            8.3           7.1         -1.2          3.7            2.0          -4.2
            IV            3.5           6.9          3.3          6.1            3.9           2.6

        ANNUAL            4.2           6.0          1.7          1.9           -0.2          -2.2

  1998       I            5.1           4.4         -0.7          7.9            7.1           2.7
            II            3.5           2.1         -1.4          5.5            4.4           2.0
           III            6.8           3.0         -3.5          3.9            2.4          -2.6
            IV            3.9           5.7          1.8          2.8            1.0          -1.1

        ANNUAL            4.9           4.7         -0.2          5.3            3.9           0.4

  1999       I            8.0           5.1         -2.7          5.6            3.9          -2.2
            II            2.7           3.6          0.9          1.0           -1.8          -1.7

           III            3.1           3.6          0.5          5.6            2.6           2.5
            IV            7.5           4.5         -2.8          5.4            2.0          -1.9

        ANNUAL            5.1           4.3         -0.8          4.0            1.8          -1.1

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  1997       I            3.7           6.2          2.4          1.8           -1.0          -1.8
            II            3.9           5.6          1.7          1.4           -0.7          -2.4
           III            4.6           5.8          1.1          1.8           -0.2          -2.7
            IV            4.7           6.4          1.7          2.7            0.9          -1.9

        ANNUAL            4.2           6.0          1.7          1.9           -0.2          -2.2

  1998       I            5.1           5.8          0.7          4.7            3.2          -0.4
            II            5.1           5.1          0.0          5.8            4.3           0.7
           III            4.7           4.1         -0.6          5.9            4.4           1.1
            IV            4.8           3.8         -1.0          5.0            3.7           0.2

        ANNUAL            4.9           4.7         -0.2          5.3            3.9           0.4

  1999       I            5.5           4.0         -1.5          4.5            2.9          -1.0
            II            5.3           4.4         -0.9          3.3            1.4          -1.9
           III            4.4           4.5          0.1          3.7            1.4          -0.6
            IV            5.3           4.2         -1.0          4.4            1.7          -0.9

        ANNUAL            5.1           4.3         -0.8          4.0            1.8          -1.1

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2002
                                                                  Source: Bureau of Labor Statistics

Appendix table 4. Durable manufacturing sector: Revised productivity, hourly compensation, and
   unit, labor costs seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  1997       I          121.1         132.6        109.5        107.7           96.2          89.0
            II          122.7         135.2        110.2        108.0           96.3          88.0
           III          125.5         138.2        110.1        109.0           96.8          86.9
            IV          127.6         141.9        111.1        110.9           97.9          86.9

        ANNUAL          124.2         137.0        110.2        108.9           96.9          87.7

  1998       I          129.8         144.6        111.4        113.0           99.6          87.1
            II          131.1         145.6        111.1        114.4          100.5          87.3
           III          134.5         148.2        110.2        115.4          101.0          85.8
            IV          137.3         152.3        111.0        116.5          101.5          84.9

        ANNUAL          133.2         147.7        110.9        114.8          100.7          86.2

  1999       I          141.2         155.0        109.7        118.4          102.7          83.8
            II          142.8         156.9        109.9        118.7          102.4          83.2
           III          144.1         159.5        110.7        120.8          103.4          83.8
            IV          145.9         160.4        110.0        122.6          104.1          84.0

        ANNUAL          143.5         158.0        110.1        120.1          103.2          83.7

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  1997       I            3.0           9.1          6.0         -0.9           -3.2          -3.8
            II            5.6           8.0          2.3          1.0            0.1          -4.4
           III            9.2           9.2          0.0          3.9            2.2          -4.9
            IV            7.1          11.1          3.7          7.0            4.7          -0.1

        ANNUAL            5.1           8.2          2.9          1.4           -0.7          -3.5

  1998       I            6.9           8.0          1.0          7.8            6.9           0.9
            II            4.3           2.9         -1.3          5.2            4.1           0.9
           III           10.7           7.2         -3.2          3.5            1.9          -6.5
            IV            8.5          11.6          2.9          3.9            2.0          -4.3

        ANNUAL            7.2           7.8          0.6          5.4            4.0          -1.6

  1999       I           11.9           7.1         -4.3          6.5            4.8          -4.8
            II            4.6           5.1          0.5          1.3           -1.5          -3.2
           III            3.6           6.9          3.1          7.1            4.1           3.4
            IV            5.1           2.3         -2.7          6.0            2.6           0.8

        ANNUAL            7.7           6.9         -0.7          4.6            2.5          -2.9

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  1997       I            4.2           8.1          3.8          0.8           -1.9          -3.2
            II            4.6           7.4          2.6          0.8           -1.3          -3.6
           III            5.4           7.8          2.3          1.3           -0.7          -3.9
            IV            6.2           9.4          3.0          2.7            0.9          -3.3

        ANNUAL            5.1           8.2          2.9          1.4           -0.7          -3.5

  1998       I            7.2           9.1          1.7          4.9            3.4          -2.2
            II            6.9           7.7          0.8          6.0            4.5          -0.8
           III            7.2           7.2          0.0          5.9            4.4          -1.3
            IV            7.6           7.4         -0.2          5.1            3.7          -2.3

        ANNUAL            7.2           7.8          0.6          5.4            4.0          -1.6

  1999       I            8.8           7.2         -1.5          4.8            3.2          -3.7
            II            8.9           7.7         -1.1          3.8            1.8          -4.7
           III            7.1           7.6          0.5          4.7            2.3          -2.3
            IV            6.3           5.3         -0.9          5.2            2.5          -1.0

        ANNUAL            7.7           6.9         -0.7          4.6            2.5          -2.9

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2002
                                                                  Source: Bureau of Labor Statistics

Appendix table 5. Nondurable manufacturing sector: Revised productivity, hourly compensation, and
   unit, labor costs seasonally adjusted
                                                                              Real
       Year           Output per                  Hours       Compensa-       compensa-      Unit 
       and            hour of                     of all      tion per        tion per       labor
       quarter        all persons     Output      persons     hour (1)        hour (2)       costs
  --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  1997       I          111.6         110.6         99.1        113.7          101.6         101.9
            II          112.0         111.1         99.2        114.0          101.6         101.7
           III          114.2         112.5         98.5        114.9          102.0         100.6
            IV          114.0         113.1         99.2        116.2          102.6         101.9

        ANNUAL          112.9         111.8         99.0        114.7          102.0         101.5

  1998       I          115.0         113.2         98.4        118.4          104.4         103.0
            II          115.7         113.5         98.0        120.2          105.6         103.8
           III          116.3         112.9         97.0        121.5          106.4         104.5
            IV          115.9         112.5         97.1        121.8          106.1         105.1

        ANNUAL          115.7         113.0         97.6        120.5          105.7         104.1

  1999       I          116.6         113.2         97.0        123.1          106.8         105.5
            II          116.6         113.6         97.4        123.3          106.3         105.7
           III          117.4         113.4         96.6        124.0          106.2         105.6
            IV          120.4         115.5         95.9        125.4          106.4         104.1

        ANNUAL          117.8         113.9         96.7        123.9          106.5         105.2

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  1997       I            5.6           4.9         -0.7          1.3           -1.0          -4.1
            II            1.5           1.8          0.3          0.9            0.0          -0.6
           III            8.0           4.9         -2.8          3.3            1.6          -4.3
            IV           -0.5           2.2          2.7          4.6            2.4           5.1

        ANNUAL            3.9           4.0          0.0          2.5            0.4          -1.3

  1998       I            3.4           0.2         -3.2          7.8            7.0           4.2
            II            2.5           1.1         -1.4          6.0            4.8           3.4
           III            2.1          -1.9         -4.0          4.7            3.1           2.5
            IV           -1.6          -1.5          0.1          0.8           -1.0           2.5

        ANNUAL            2.5           1.0         -1.4          5.0            3.6           2.5

  1999       I            2.6           2.4         -0.2          4.4            2.7           1.7
            II            0.1           1.6          1.5          0.6           -2.1           0.5
           III            2.8          -0.6         -3.3          2.6           -0.3          -0.2
            IV           10.5           7.3         -2.8          4.3            1.0          -5.5

        ANNUAL            1.8           0.8         -0.9          2.9            0.8           1.1

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  1997       I            3.9           4.4          0.5          3.0            0.3          -0.8
            II            3.7           4.1          0.3          2.2            0.1          -1.4
           III            4.5           3.9         -0.6          2.4            0.4          -2.0
            IV            3.6           3.5         -0.1          2.5            0.8          -1.0

        ANNUAL            3.9           4.0          0.0          2.5            0.4          -1.3

  1998       I            3.1           2.3         -0.8          4.1            2.7           1.0
            II            3.3           2.1         -1.2          5.4            3.9           2.0
           III            1.9           0.4         -1.5          5.8            4.3           3.8
            IV            1.6          -0.5         -2.1          4.8            3.4           3.1

        ANNUAL            2.5           1.0         -1.4          5.0            3.6           2.5

  1999       I            1.4           0.0         -1.4          3.9            2.4           2.5
            II            0.8           0.1         -0.7          2.6            0.6           1.8
           III            0.9           0.5         -0.5          2.1           -0.2           1.1
            IV            3.9           2.6         -1.2          2.9            0.3          -0.9

        ANNUAL            1.8           0.8         -0.9          2.9            0.8           1.1

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                August 9, 2002
                                                                  Source: Bureau of Labor Statistics

Appendix table 6. Nonfinancial corporations:  Revised productivity, hourly compensation, unit labor costs,
   unit profits, and prices, seasonally adjusted
 
                Output                      Hourly    Real                Unit     Total    Unit   Implicit
      Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
      and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
      quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
  ----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  1997      I    107.6    123.8     115.1    109.6      97.9     101.9    100.6    101.6    154.8    106.1
           II    107.7    125.7     116.7    109.5      97.7     101.7    101.5    101.7    155.4    106.2
          III    108.9    128.2     117.7    110.3      97.9     101.3    101.0    101.2    160.5    106.2
           IV    109.6    130.2     118.8    111.8      98.7     102.1    100.6    101.7    156.8    106.3

       ANNUAL    108.4    127.0     117.1    110.3      98.1     101.8    100.9    101.5    156.9    106.2

  1998      I    109.9    131.2     119.4    113.8     100.3     103.6    101.7    103.1    143.8    106.5
           II    111.2    133.1     119.7    115.4     101.4     103.8    101.9    103.3    140.4    106.4
          III    112.7    135.6     120.3    116.7     102.2     103.6    101.8    103.1    144.9    106.7
           IV    113.2    137.3     121.3    117.8     102.7     104.1    103.3    103.9    137.7    106.7

       ANNUAL    111.7    134.3     120.2    116.0     101.7     103.8    102.2    103.3    141.7    106.6

  1999      I    114.3    139.3     121.9    120.2     104.3     105.1    101.6    104.2    137.1    106.9
           II    114.5    140.4     122.7    120.4     103.8     105.2    102.6    104.5    135.5    107.1
          III    114.6    141.6     123.5    121.2     103.7     105.7    104.6    105.4    127.8    107.3
           IV    115.2    143.4     124.4    122.7     104.2     106.5    105.1    106.1    126.5    107.8

       ANNUAL    114.7    141.2     123.1    121.1     104.1     105.6    103.5    105.1    131.7    107.3

  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  1997      I     -3.2      3.0       6.4     -0.5      -2.8       2.7      1.9      2.5      0.6      2.3
           II      0.4      6.0       5.6     -0.2      -1.0      -0.6      3.5      0.5      1.7      0.6
          III      4.6      8.4       3.6      2.9       1.2      -1.7     -2.1     -1.8     13.7      0.0
           IV      2.4      6.3       3.8      5.6       3.3       3.1     -1.5      1.8     -8.9      0.4

       ANNUAL      0.9      5.9       5.0      1.3      -0.9       0.4      0.3      0.4      3.1      0.7

  1998      I      1.2      3.2       2.0      7.4       6.5       6.1      4.5      5.7    -29.2      0.7
           II      5.0      5.9       0.9      5.7       4.5       0.7      0.8      0.7     -9.2     -0.4
          III      5.4      7.8       2.2      4.7       3.1      -0.7     -0.5     -0.6     13.5      0.9
           IV      1.7      4.9       3.1      3.7       1.8       1.9      5.9      3.0    -18.4      0.3

       ANNUAL      3.0      5.8       2.6      5.1       3.6       2.0      1.2      1.8     -9.7      0.3

  1999      I      4.1      6.2       2.0      8.3       6.5       3.9     -6.3      1.1     -1.8      0.8
           II      0.4      3.1       2.7      0.7      -2.1       0.2      4.1      1.2     -4.7      0.6
          III      0.6      3.3       2.7      2.8      -0.1       2.1      7.9      3.7    -20.8      0.8
           IV      2.2      5.2       3.0      5.2       1.9       3.0      1.9      2.7     -4.0      2.0

       ANNUAL      2.6      5.1       2.4      4.4       2.3       1.8      1.3      1.7     -7.1      0.7

  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  1997      I      1.1      5.9       4.7      1.7      -1.0       0.6     -0.6      0.3      2.8      0.6
           II      0.3      5.5       5.2      0.6      -1.4       0.3      0.8      0.5      2.4      0.7
          III      1.0      6.2       5.2      0.8      -1.2      -0.2      0.6      0.0      5.6      0.7
           IV      1.0      5.9       4.8      1.9       0.1       0.8      0.4      0.7      1.4      0.8

       ANNUAL      0.9      5.9       5.0      1.3      -0.9       0.4      0.3      0.4      3.1      0.7

  1998      I      2.2      6.0       3.7      3.9       2.5       1.7      1.1      1.5     -7.1      0.4
           II      3.3      5.9       2.6      5.4       3.9       2.0      0.4      1.6     -9.7      0.2
          III      3.5      5.8       2.2      5.8       4.4       2.3      0.8      1.9     -9.7      0.4
           IV      3.3      5.4       2.1      5.3       4.0       2.0      2.7      2.2    -12.1      0.4

       ANNUAL      3.0      5.8       2.6      5.1       3.6       2.0      1.2      1.8     -9.7      0.3

  1999      I      4.0      6.2       2.1      5.6       4.0       1.5     -0.1      1.0     -4.7      0.4
           II      2.9      5.5       2.5      4.3       2.3       1.3      0.7      1.2     -3.5      0.6
          III      1.7      4.4       2.6      3.8       1.5       2.1      2.8      2.2    -11.8      0.6
           IV      1.8      4.5       2.6      4.2       1.5       2.3      1.8      2.2     -8.1      1.0

       ANNUAL      2.6      5.1       2.4      4.4       2.3       1.8      1.3      1.7     -7.1      0.7

  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        August 9, 2002
                                                                          Source: Bureau of Labor Statistics