Wednesday, 21 February 2018

Productivity growth strongest since recession of 2008



The UK has seen the strongest two quarters of productivity growth since the recession of 2008, according to the latest data.

 
Output per hour rose 0.8% in the three months to December, the Office for National Statistics said. It follows growth of 0.9% in the previous period.


There was also a better than expected rise in wages. Excluding bonuses, earnings rose by 2.5% year-on-year.


However, unemployment edged higher, but still remains low at 4.4%.


The growth in productivity - as measured by the amount of work produced per working hour - will provide encouragement to policy makers who have wrestled with the challenge of low productivity growth since the financial crisis.




BC     News.