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The Bureau of Labor Statistics of the U.S. Department of Labor today reported revised productivity data--as measured by output per hour of all persons--for the second quarter of 2003. The seasonally-adjusted annual rate of productivity growth in the second quarter was 6.8 percent, compared to a 2.1 annual percent rate of increase percent in the first quarter of 2003. The productivity number referred to is that of the nonfarm business sector, the most commonly used gauge of productivity.
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