Intel's pathbreaking 45-nanometer manufacturing process is yielding at or above all-time record levels, leading to well above average margins in the most recent quarters as capacityutilization gets back to normal.
These are hardly excessive growth rates in normal times, much less in an economy with almost 10 percent unemployment, with capacityutilization down from the 80s to the 60s, and with nonbank credit sinking, productivity growing rapidly, and with unit labor cost declining.