US Economics

US Economics

US Economics Weekly

11 August, 2017

Productivity growth likely to remain muted

The recent pick-up in productivity growth is at least partly due to tighter conditions in the labour market, with the dwindling pool of the unemployed forcing firms to invest in additional productivity-enhancing capital equipment instead. Given the high proportion of firms now reporting that jobs are hard to fill, we might normally expect both business investment and productivity growth to accelerate. However, capacity utilisation rates are still slightly depressed, so the boost to investment could

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