Authors: Dale W. Jorgenson, Mun S. Ho, and Kevin J. Stiroh

U.S. productivity growth has accelerated in recent years, despite a series of negative economic shocks. An analysis of the sources of this growth over the 1995-2003 period suggests that the production and use of information technology account for a large share of the gains. The authors project that during the next decade, private sector productivity growth will continue at a rate of 2.6 percent per year, a significant increase from their 2002 projection of 2.2 percent growth.