Over the past 15 years America’s underlying productivity growth—adjusted for the ups and downs of the business cycle—has outperformed most other rich economies’ by a wide margin (see chart 12).

在过去的15年中，美国的潜在劳动生产率的增长幅度（经过了经济周期的调整）大大超过了其他多数的发达国家（见图12）。

youdao

One implication is that productivity gains are now outstripping consumption by a large margin.

证据之一就是当前生产力增速远超消费增长。

youdao

So far, wage increases have been broadly absorbed by productivity gains and margin erosion.

迄今为止，消化工资上涨的手段主要是提高生产率和牺牲利润率。

youdao

The recent margin and productivity trends have exceeded market expectations and the railroads have set records even during the recession.

FORBES: Riding The Rails With CSX To $32 A Share

"The combination of good execution at the point of sale, superior net revenue and margin management, and cost and productivity initiatives has enabled us to effectively manage through a challenging set of global business conditions, " said Chief Executive EricFossEric Foss of Pepsi Bottling.

FORBES: Magazine Article

"The combination of good execution at the point of sale, superior net revenue and margin management, and cost and productivity initiatives has enabled us to effectively manage through a challenging set of global business conditions, " said Chief Executive Eric Foss of Pepsi Bottling.

FORBES: Bottler has neither good nor bad news for the quarter.