Abstract
This paper analyzes the sources of U.S. productivity growth through 2004 and presents medium-term projections for the U.S. economy. We attribute a substantial portion of productivity gains over the past decade to production and use of information technology equipment and software. In the most recent years, we also identify a growing contribution from sources outside the technology-producing sectors. Our base-case projection for the GDP growth rate is almost exactly three percent. We emphasize the substantial range of uncertainty by presenting an optimistic projection of 3.5 percent and a pessimistic projection of only 1.9 percent.
Similar content being viewed by others
Author information
Authors and Affiliations
Rights and permissions
About this article
Cite this article
Jorgenson, D., Ho, M. & Stiroh, K. Potential Growth of the U.S. Economy: Will the Productivity Resurgence Continue?. Bus Econ 41, 7–16 (2006). https://doi.org/10.2145/20060101
Published:
Issue Date:
DOI: https://doi.org/10.2145/20060101