1999 Annual Report - Productivity Growth & The “New Economy”
By almost any measure these
have been good economic times. In 1999, U.S. economic growth
averaged more
than 4 percent for the third consecutive year. The unemployment
rate fell to a 30-year low. Inflation averaged just over
2
percent. And real incomes increased. Even those at the bottom
of the income distribution seem to be making gains, after
years of stagnation. For some time, “it doesn't get much
better than this” has been on everyone's lips. Is this
rosy picture just an unusually long upswing in the business
cycle? Or is a “New Economy” truly emerging?
Complete Report 
(875K)
Feature Essay:
Productivity Growth & the “New Economy”
by Cathy E. Minehan, Lynn E. Browne, and Lee McIntyre
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