Washington, Mar. 4--The productivity of American workers grew 2.6 percent annual rate in the final three months of 2003, according to revised figures from the Labor Department.
The new figure, which matched economists' expectations, was slightly slower than the 2.7 percent pace first estimated a month ago. Although the fourth-quarter's performance marked a slowdown from a sizable 9.5 percent growth rate in the previous quarter, it still represented a respectable pace that bodes well for the economic recovery.
For all of 2003, productivity grew by a solid 4.4 percent, following a 5 percent increase for 2002.
