Corporate profits, he noted, have risen sharply since the third quarter of last year, thanks in part to a big jump inproductivityand to adeclinein unit labour costs.
Large areas of North and South America, Australia, Asia and Europe have experienced a serious declinein crop productivity this century as a result of this problem.
Many have become (perhaps excessively) risk averse, as is also reflected ina sharp declinein corporate investment even as their productivity, exports and profits soar.
Even when this training is complete, organizations will continue to experience adeclineinproductivity due to implementation and go-live efforts (plus the inherent learning curve in using the new code sets).
The company witnessed adeclinein soda consumption in developed economies andadeclinein the bottom line as the company incurs incremental costs due to restructuring andproductivity improvement plans.