ecb speech, 2006-04-24
For example, Total Factor Productivity (TFP) growth, which is rightly considered as a pertinent proxy of technological progress, significantly declined in Europe from an annual average of 1.1% during the 1990s to 0.7% between 2000 and 2004, while it accelerated from 0.7% to 1.2% over the same periods in the US.
Sentiment: neutral
Topic: mp_economic_activity