From 1988 to 2023, IT averaged about 8% of U.S. private-business production while accounting for about 45% of aggregate total factor productivity growth.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 8: THE SHIELD OF SCREWTAPE YES, BUT . . .

"From 1988 to 2023, IT averaged about 8% of U.S. private-business production while accounting for about 45% of aggregate total factor productivity growth."

The Chicago Fed finds that IT produced roughly 45% of U.S. private-business TFP growth while averaging only about 8% of production, making its productivity contribution more than five times its economic weight.

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Source title Concentrated Growth: The Role of the IT Sector

Source authors Joel David, Gustavo de Souza, Adalyn Schommer

Source year 2025

Confidence high

Importance high