The UK’s productivity levels, measured as output per hour, have remained the same compared to the previous quarter of this year. Although they have fallen by 0.3% compared to the same quarter last year.
While the overall pictures has changed little, there were differences across the sectors.
The manufacturing sector has seen it’s input rise by 1.2% giving it 3 consecutive quarters of improvement. The service sector has not faired so well though. It say a fall of 0.1% on the previous quarter with no change on the same quarter last year. It’s last quarter-on-quarter rise was in 2013 Q4 where it increased by 0.2%.
When measured in productivity per worker, the image is slightly more positive. Across the whole economy, this grew by 0.4% compared to the previous quarter and the same quarter last year. This is good news after a drop of 0.3% in the years first quarter interrupted a 5 quarter consecutive rise.
In regards to labour costs, this saw a rise of 0.1% compared to the last quarter, but this is in comparison to a significant fall of 1.1% when looking at the same quarter in 2013. The general trend in labour costs has been downwards with the latest figures bucking a three quarter consecutive fall.
Image by Martin Teschner