Components that led to the racing growth of real GDP since '95 include new technology, low barriers to foreign trade and investment, and social acceptance of intense competition in all markets. GDP grew 2.7 percent in '95 and 3.6 percent in '96.
Federal Reserve Bank of St. Louis or Bureau of Economics Advisors
This paper will discuss the productivity growth, unemployment rate, and the role of the Federal Reserve with regard to inflation in '95. Institute for International Economics
According to the National Bureau of Labor Statistics, the '95 annual rate of productivity growth in the business sector was 2.1 percent. Output rose 4.9 percent, and hours worked increased 2.8 percent. The Motley Fool
To put this in perspective, during '93 BLS inflation-adjusted indexes for output, hours worked and productivity rose at annual rates of 4.7 percent, 2.3 percent, and 2.2 percent respectively--whereas real compensation per hour rose at an annualized rate of only 0.3 percent. In '95, real compensation per hour rose at an annualized rate of 0.9 percent. The Motley Fool
The unemployment rate in '95 dropped faster and ended up much lower than top economists expected (Bureau of Economic Analysis). It was down to 5.6 percent by December. The decreasing trend continued, flattening out in '99 at just over four percent. Bureau of Labor Statistics
The stance of monetary policy was adjusted three times in '95. The Fed increased the pressure on reserve positions early in the year to contain rising inflationatory pressures. Then, as pressures dwindled, the Fed eased monetary policy twice later in the year. The cumulative change to the federal funds rate in '95 was zero, remaining at 5.5 percent. In '96 it decreased to 5.3 percent. Board of Governors of the Federal Reserve System
Generally speaking, '95 was a brilliant economic year for the U.S. The policies that generated this performance will be used as models for years to come.