Mon, 12 Aug 2002 05:52:02 GMT

New Data Confirm Amazingly Strong Productivity Trend. Usually reliable sources report that as the preliminary estimates of productivity growth were reported over the past year, Alan Greenspan was dumbfounded. “I don’t believe it,” he is supposed to have said. “You just can’t get such high productivity growth in a recession. It will be revised down.” And I don’t know anybody who didn’t agree, to some degree at least. Well, the revisions are in, and the productivity growth trend is a little bit weaker, but only a little… [Semi-Daily Journal]

Still a little early to exclaim too loudly. If productivity gains raise unemployment, it may not be a good sign. But if the economy grows, this could be wonderful