Posted at 16:20h in The Friday BriefIndications are that a slowdown is in the cards for this quarter and for the first quarter of next year, but that does not mean recession must follow, as some more pessimistic economists suggest. Indeed there are many reasons to expect a significant pickup. Productivity, the driver of this powerful economy remains alive and well. Productivity not only keeps our economy growing without inflation, it is vital for the U.S.to remain competitive in an increasingly competitive global economy. Yesterday, the government reported that Non-farm Productivity was up a whopping 4.1% for the third quarter and well ahead of last quarter’s 2.1%. The increase more than offset the 3.6% increase in hourly compensation, so unit labor costs fell 0.5% during the quarter.