69-154. BIS Review 104/2006  3  economy, likely will remain supportive. Although productivity growth has stepped down from the scorching pace seen early in the recovery, factors remain in place for continued solid growth over the next few years.
One element is capital deepening, that is, the rate at which the stock of equipment, software, and so forth is expanding relative to the number of workers, or - to put it even more simply, how fast workers are getting more of the tools they need.