Productivity dip in early months of 2017 signals end of positive growth
Productivity fell in the first few months of the year bringing an end to a run of growth, new figures have shown.
The Office for National Statistics (ONS) said that labour productivity in the UK as measured by output per hour fell by 0.5% from the final quarter of 2016 to the first three months of this year. It was the first fall since the end of 2015.
ONS head of productivity Philip Wales said: “UK labour productivity growth has struggled since the economic downturn in 2008.
“The fall in the first quarter of 2017 brings to an end a recent run of quarters of positive growth.
“The experimental statistics that ONS is releasing also reveal striking differences in productivity in different industries and different regions.
“In 2015, output per hour worked in London’s financial and insurance industries was around seven times higher than in the lowest productivity regional industries.”
Belfast Telegraph Digital