Multifactor productivity

Multifactor productivity (MFP) measures the changes in output per unit of combined inputs. Indexes of MFP are produced for the private business, private nonfarm business, and manufacturing sectors of the economy. MFP is also developed for 2-and 3-digit Standard Industrial Classification (SIC) thru 1987, and NAICS (North Atlantic Industrial Classification System) thru 2005 for manufacturing industries, the railroad transportation industry, the air transportation industry, and the utility and gas industry.
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In multifactor productivity measures, output is related to combined inputs of labor, capital and intermediate purchases. Labor is measured by the number of hours of labor expended in the production of output. Capital includes equipment, structures, land and inventories. Intermediate purchases are composed of materials, fuels, electricity, and purchased services.