Biggest source of productivity weakness is slack investment: Decomposition of sources of productivity growth

Labor quality upgrading Capital-deepening (business investment) Total factor productivity growth (technological advancements)
1947-73 0.18716% 0.94065% 2.00549%
1973-79 0.05329 0.56208 0.77685
1979-95 0.36189 0.71227 0.42173
1995-2001 0.30980 1.19368 1.43182
2001-07 0.24916 1.02762 1.24151
2007-09 0.65694 1.91728 -0.67764
2009-12 0.26453 0.59400 0.88477
2012-16 0.46385 0.17963 0.05633

 

Source: Data from Fernald (2016)

View the underlying data on epi.org.