My Bush Boom’s ”Oh Shit” Moment

From Holden:

Productivity in the US declined by half a percentage point in the fourth quarter of 2005, the first such decline in five years.

U.S. nonfarm business productivity fell at a 0.5 percent annual rate in the fourth quarter, a smaller drop than first thought but still the first decline in nearly five years, a government report showed on Tuesday.

Wall Street had expected productivity to be revised to a 0.1 percent decrease from the originally reported 0.6 percent drop after an upward revision to fourth-quarter gross domestic product growth.

[snip]

For 2005 as a whole, productivity grew 2.9 percent, the smallest increase since 2.4 percent growth in 2001 and slowing from a 3.4 percent increase in 2004.