Productivity Powers Prosperity

The economy is performing exceptionally well, driven by strong productivity growth, which stood at 2.7% year-over-year, surpassing the historical average of 2%. This productivity surge suggests that companies are leveraging technology to enhance the productivity of their existing workforce, especially as worker availability decreases. As a result, productivity is expected to lead economic growth throughout the 2020s, resembling a transformative force that accelerates real GDP growth and improves overall economic conditions.