U.K. Productivity Finally Returns to Pre-Recession Level: Chartby
U.K. productivity has finally regained its pre-recession peak, according to data released on Thursday. Output per hour grew 0.6 percent in the second quarter from the three months through January, taking it above its previous high at the end of 2007. Still, the big picture is that productivity growth has effectively stagnated for a decade and it’s 17 percent below where it would have been if it had continued growing at its pre-crisis trend.