China, Poland, India outpace U.S. in productivity
January 17, 2006,
NEW YORK -- The high U.S. growth rate in labor productivity, a key driver of corporate profits and economic growth in recent years, has slowed substantially, while emerging market nations in Asia and Eastern Europe are catching up, The Conference Board reported.
The U.S. rate of 1.8 ranked well in the study against developed nations. Japan's productivity rate was 1.9 percent, far ahead of a sluggish European Union, up just 0.5 percent. At the high end of the ranking was China, up 8.7 percent, a sharp boost from an average rate of 3.1 percent between 1995 and 2000.Poland was up 7.7 percent; and India grew by 4.4 percent.