US Recovery: "It's a Miracle"

Top Norwegian analyst has taken a closer look at the recovery of the U.S. economy and arrived at the following conclution: “It’s a Miracle”

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Stig R. Myrseth, head of research, Orion Securities.

Mr. Stig Myrseth is head of research at the nordic brokarage firm Orion Securities.

He’s been awarded as Norway‘s “Best Stock Picker” six years in a row.

In 2009 his recommended portfolio has gained about 140%, compared to the 45 & gain in the benchmark index at Oslo Stock Exchange.

Today Mr. Myseth have looked closer at the latets figures of U.S industry productivity and writes in his research note the the numbers are nothing short of “a miracle”.

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“How productive are american companies? Extreme”, he writes. “Usually the productivity decrease under a resession because the reduction in production is falling faster than the employment rate. In this ressession, on the other hand, we’ve witnessed a miracle of productivity. While producuction has gone down by 3,5%, the employment by hour is down by as much as 7,5%, and as a consequence the productivity has increased by 4,5%“, Mr. Myrseth points out.

“The strong development in productivity, combined with the weaker dollar, explains another miracle; the surprisingly strong improvment in the companies reports the last two quaters.”

 

 

Here’s a copy of the original reseach note (Norwegian only).

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