Study Notes

Productivity and Economic Growth

Last updated 20 Jul 2019

What is productivity?

Productivity is a measure of the efficiency with which a country combines capital and labour to produce more with the same level of factor inputs.

Output per hour worked in the UK was 15.9% below the average for the rest of the G7 advanced economies in 2015; this compares with 15.8% in 2014.

Output per worker in the UK was 16.6% below the average for the rest of the G7 in 2015.

Productivity growth in the UK 2018 - Revision Video

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