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The new 'new economy'

机译：新的“新经济”

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In at least one sense, America's "new economy" is well and truly dead. The number of articles in financial newspapers containing the words "new economy" is now running at only 5% of its level in 2000. Yet in another sense the new economy is very much alive and kicking: its most important feature, namely America's improvement in productivity based on new information technology, continues to amaze. Revised figures last week showed that output per man-hour in America's non-farm business sector grew at an annual rate of 6.8% in the second quarter of this year. Quarterly changes are notoriously volatile, but over the past year productivity has increased by an impressive 4.1%. Productivity always bounces back in the early stages of an economic recovery (as firms produce more with their leaner workforces). But the recent spurt has been unusually robust, especially since this has been America's weakest recovery in modern history. According to J.P. Morgan Chase, over the past five years America has enjoyed the fastest productivity growth in any such period since the second world war. Over the whole period from 1995, labour productivity growth has averaged almost 3% a year, twice the average rate over the previous two decades.
机译：至少从某种意义上说，美国的“新经济”是健康的，而且确实已经消亡。金融报纸上载有“新经济”一词的文章数量目前仅是其2000年水平的5％。但是，从另一种意义上讲，新经济却非常活跃和活跃：其最重要的特征，即美国对经济的改善。基于新信息技术的生产力，继续令人赞叹。上周修正后的数据显示，今年第二季度，美国非农业务部门的人均小时产出年增长率为6.8％。季度变化众所周知是不稳定的，但是在过去的一年中，生产率增长了令人印象深刻的4.1％。在经济复苏的早期阶段，生产力总是会反弹（随着公司通过精简的劳动力生产更多的产品）。但是最近的突增异常强劲，特别是因为这是美国近代史上最弱的复苏。摩根大通（J.P. Morgan Chase）表示，在过去五年中，美国的生产力增长是第二次世界大战以来任何时期以来最快的。从1995年开始的整个期间，劳动生产率平均每年增长近3％，是过去二十年平均增长率的两倍。

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