Sectoral specialisation in the EU a macroeconomic perspective

manufacturing as well as in business sector
services, the US labour productivity growth
rate is on average higher than in the EU or in the
euro area over the entire period. In particular, as
regards the manufacturing sector, this may be
related to a more pronounced shift of resources
across manufacturing sectors towards more
productive uses.

ECB

Occasional Paper No. 19

July 2004

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