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Image: Scott Olson

been unable to adequately explain. Productivity

is the key to rising living standards, and the slow

pace of growth in recent years has been a major

reason that wage gains have lagged.

The revision to the productivity figures followed

last week’s revised data on the performance of

the gross domestic product, the economy’s total

output of goods and services. The government

said GDP fell at an annual rate of 5% in the first

quarter, slightly worse than the 4.8% decline

that was estimated a month ago.

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