Briefing

Forecasting U.S. Productivity


Abstract: Trend aggregate labor productivity and TFP growth are expected to increase over the rest of the decade. The three largest subsectors of the service economy — namely professional business services; finance, insurance and real estate; and education and health care — are expected to continue growing in the medium term, and their idiosyncratic productivity is expected to play an increasingly important role in aggregate productivity.

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Description: Briefing

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Richmond Fed Economic Brief

Publication Date: 2025-08-06

Volume: 25

Issue: 30