UK productivity revised

The Office for National Statistics has revised its data on GDP, which means its productivity data has also been revised.  However, despite the changes, the data still show productivity growth stalling, and even falling, after the financial crisis. The result is that at the end of 2012 it was 12% below trend (previously thought to be 14% below trend).

The chart below is from the September Economic Review:

UK productivity early Sept 14


Stephen Beer, 07/09/2014

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