Productivity in U.S. Probably Decreased

Quote: Cisco Systems Inc. (CSCO), the largest networking-equipment maker, plans to eliminate about 6,500 jobs, or 9 percent of its full- time global workforce, to trim $1 billion in annual costs and boost profit growth. Mike JacksonFort Lauderdale, Florida-based company has to stay prepared in case things “get ugly again,” he said. “We have a fragile recovery that’s under way, which means if you introduce anything into it that’s disruptive, it’s going to knock it off its pace,” Jackson said in an Aug. 3 interview. Bloomberg Survey ===========================================Prod-LaboructivityCostsQOQ%QOQ% ===========================================Date of Release08/0908/09 Observation Period2Q P2Q P ------------------------------------------- Median-0.9%2.4% Average-0.7%2.3% High Forecast2.2%4.2% Low Forecast-2.0%-0.5% Number of Participants6055 Previous1.8%0.7% ------------------------------------------- 4CAST-0.7%3.4% ABN Amro-1.5%--- Action Economics-1.0%2.5% Aletti Gestielle-1.0%--- Ameriprise Financial-0.8%2.7% Barclays Capital-0.2%3.0% BBVA-0.1%1.0% BMO Capital Markets-0.7%1.7% BNP Paribas-1.5%1.0% BofA Merrill Lynch-1.5%3.2% Briefing.com-0.6%2.0% Capital Economics-0.8%2.5% CIBC World Markets-0.7%--- Citi-1.2%1.7% ClearView Economics-1.5%3.5% Credit Agricole CIB-0.4%2.1% Credit Suisse-0.2%2.7% Daiwa Securities America0.0%--- DekaBank-0.8%2.3% Desjardins Group-0.9%2.3% Deutsche Bank Securities-1.0%2.5% DZ Bank-1.0%1.5% Fact & Opinion Economics-1.2%2.5% First Trust Advisors-0.5%0.9% FTN Financial-0.8%2.4% Goldman, Sachs & Co.-1.5%3.0% Helaba0.0%2.0% HSBC Markets-0.5%2.0% IDEAglobal2.2%-0.5% Informa Global Markets-1.7%4.2% ING Financial Markets-0.9%2.6% Insight Economics-0.8%2.5% J.P. Morgan Chase-1.1%2.3% Jefferies & Co.-1.0%2.5% Landesbank BW-2.0%3.7% Manulife Asset Management-1.0%2.2% MF Global-0.8%1.8% Moody’s Analytics0.1%1.7% Morgan Stanley & Co.-1.2%2.5% Natixis0.2%1.5% Newedge-1.0%2.5% Nomura Secur...
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