Showing posts with label industrialised countries. Show all posts
Showing posts with label industrialised countries. Show all posts

Wednesday, 18 September 2013

UK Productivity Lower Than Most Of Major Economies

Output per hour in the UK was 16% lower than the rest of the industrialised countries of the G7 in 2012 according to the ONS. In terms of output per worker the UK was 19% behind the average for the rest.

UK output per hor and per worker fell whereas across the rest of the G7 they increased. Output per hour was 2% below the pre-recession level of 2007 and there is a 15% gap between its current level and where it would have been if it had grown at its pre-recession rate. There was a productivity gap of 5% for the rest of the G7.