According to the data in the link below, which nations have experienced the slowest growth?The BLS compiles international data on manufacturing productivity...

According to the data in the link below, which nations have experienced the slowest growth?

The BLS compiles international data on manufacturing productivity at http://stats.bls.gov/news.release/prod4.t01.htm

Asked on by xnoe323x

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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The link that you have provided shows the growth in productivity for certain countries over various periods of time.  This is not the same as economic growth.  What this shows is the degree to which these countries improved their output per hour worked.  In other words, it tells us whether they came to be able to make more things with a given amount of labor.

The simplest way to answer this question is to look at the first column for each country.  This shows us the percent increase in productivity for each of nineteen countries in the time period 1970 to 2010.  In that period, Australia, Italy, and Norway were the countries that experienced the least amount of growth in their productivity.  Both Australia and Italy only improved productivity by 2.0% annually.  Norway was slightly worse with an average gain of 1.8%. 

These slow rates of productivity growth are in contrast to such countries as Taiwan and Finland.  These countries’ productivity grew at an annual rate of 6.2% and 5.3% respectively.

Sources:

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