Total Factor Productivity for Manufacturing: Pharmaceutical and Medicine Manufacturing (NAICS 3254) in the United States (IPUEN3254M000000000)

Source: U.S. Bureau of Labor Statistics  

Release: Industry Productivity  

Units:  Index 2017=100, Not Seasonally Adjusted

Frequency:  Annual

Total factor productivity is the efficiency at which combined inputs are used to produce output of goods and services. The total factor productivity indexes do not measure the specific contributions of capital, labor, and intermediate inputs. Rather, they reflect the joint influences on economic growth of a number of factors that are not specifically accounted for on the input side, including technological change, returns to scale, improved skills of the workforce, better management techniques, or other efficiency improvements.