Thursday, 11th February 2010 | By Ray Martin
Jan. 20, 2010
U.S. productivity weathered the recession well, growing 2.5 percent (in per hour terms) in 2009, The Conference Board reported today.
This blip in the prevailing downward trend in U.S. productivity was largely explained by dramatically reduced working hours that offset output decline (employment fell by 3.6 percent in 2009; hours worked per worker by 1.5 percent.) U.S. productivity growth is projected at 3 percent for 2010.
European productivity growth turned negative in 2009, falling far behind the United States. Output per hour fell 1 percent in the Euro Area.
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Friday, 5th February 2010 | By Ray Martin
Akio Toyoda, the grandson of Toyota’s founder and the most powerful man in the car industry, defended the Japanese manufacturer’s handling of a widespread fault with its accelerator pedals but admitted: “We are facing a crisis.”
More than 8m Toyota cars are being recalled worldwide, including 180,000 in the UK, with the company also under investigation in the US over problems with the brakes on its hybrid Prius car.
Mr Toyoda is planning measures which he hopes will avoid a repeat of the crisis. He will lead a committee that will take charge of introducing initiatives including the introduction of new “quality management” professionals at “Automotive Centres of Quality Excellence” in key regions, an improvement in the way it researches its cars and customers, and greater autonomy for regional divisions.
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