Assembly Lines: Productivity Soars in Third Quarter
WASHINGTON-U.S. productivity soared by the largest amount in 20 years last quarter, raising hopes that the economic recovery is taking hold and businesses will soon increase hiring.
Productivity increased at an annual rate of 9.4 percent in the July-to-September quarter, the best showing since the second quarter of 1983. The productivity figure was even stronger than the government's first estimate of an 8.1 percent productivity growth rate and represented an acceleration from the brisk 7 percent pace in the second quarter.