Worldwide productivity growth may accelerate this year after weakening for a third year in 2013, according to The Conference Board.
Global labor productivity, as measured by output per person employed, grew 1.7 percent in 2013, down from 1.8 percent in 2012 and as much as 3.9 percent in 2010, the New York-based research group said in a report published today.
The rot may reverse in 2014 as The Conference Board predicts labor productivity growth of 2.3 percent, which would be the fastest since 2011.
The projected pickup will be led by the U.S and reflects a likely improvement in the expansion of developed economies, said Bart van Ark, the board’s chief economist.
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