Source: U.S. Bureau of Labor Statistics
Labor input and capital services are combined using chained superlative Tornqvist aggregation, applying weights that represent each component's share of total costs. The chained superlative Tornqvist index uses changing weights; the share in each year is averaged with the preceding year's share.
For more information, please go to https://www.bls.gov/mfp/
Source Indicator: MPU4910032
U.S. Bureau of Labor Statistics, Private Nonfarm Business Sector: Combined Inputs [MPU4910032], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MPU4910032, December 6, 2023.