The “productivity puzzle” is finally over

We’ll probably look back on it as a blip

The UK’s productivity has now returned to pre-financial crisis levels – finally eliminating what’s been known as the “productivity puzzle”.

While for the last seven years the UK’s economy has recovered in other aspects, such as job levels and GDP, our productivity has remained stubbornly low.

However, it seems we’ve now emerged from that state with figures showing output per hour grew 0.9% between Q1 and Q2 this year, according to the Office for National Statistics.

Services were largely responsible for the rise, with output per hour growing to a record high.

Figures are still 15% down on what they would be if productivity hadn’t taken a hit following the recession, though.

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