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UK labour productivity fell in final quarter of 2015 | UK labour productivity fell in final quarter of 2015 |
(35 minutes later) | |
Productivity among UK workers at the end of last year fell at the fastest pace since 2008, official figures show. | Productivity among UK workers at the end of last year fell at the fastest pace since 2008, official figures show. |
Worker output per hour in the UK fell 1.2% during the last three months of 2015 compared with the previous quarter, according to data from the Office for National Statistics (ONS). | Worker output per hour in the UK fell 1.2% during the last three months of 2015 compared with the previous quarter, according to data from the Office for National Statistics (ONS). |
Output per hour in manufacturing fell by 2% from the previous quarter, while in the service sector it dropped 0.7%. | Output per hour in manufacturing fell by 2% from the previous quarter, while in the service sector it dropped 0.7%. |
Poor rates of productivity in the UK have been a concern to policymakers. | Poor rates of productivity in the UK have been a concern to policymakers. |
In last month's Budget, the Office for Budget Responsibility cut its growth forecasts for the UK economy after it lowered its predictions for productivity. | In last month's Budget, the Office for Budget Responsibility cut its growth forecasts for the UK economy after it lowered its predictions for productivity. |
'Deep-rooted' problems | 'Deep-rooted' problems |
The fall in productivity in the fourth quarter of the year followed a 0.6% rise in the third quarter. | |
Over 2015 as a whole, output per hour rose by 1%, which the ONS said was the strongest increase since 2011. | |
The ONS said that labour productivity overall - covering output per hour, output per worker and output per job - was about 0.5% higher in the fourth quarter of 2015 than in the same period a year earlier. | The ONS said that labour productivity overall - covering output per hour, output per worker and output per job - was about 0.5% higher in the fourth quarter of 2015 than in the same period a year earlier. |
"How productivity develops going forward is critical to the economy's growth potential," according to Howard Archer, an economist at IHS Global Insight. | "How productivity develops going forward is critical to the economy's growth potential," according to Howard Archer, an economist at IHS Global Insight. |
"The crucial question for the UK economy is, does the fourth quarter of 2015 mark a temporary relapse in productivity. Or is it evidence that the UK has an ongoing serious productivity problem." | "The crucial question for the UK economy is, does the fourth quarter of 2015 mark a temporary relapse in productivity. Or is it evidence that the UK has an ongoing serious productivity problem." |
Suren Thiru, head of economics at the British Chambers of Commerce, said: "There are deep-rooted structural problems in our economy that have dampened productivity - from skills shortages, to infrastructure bottlenecks and limited growth finance. | Suren Thiru, head of economics at the British Chambers of Commerce, said: "There are deep-rooted structural problems in our economy that have dampened productivity - from skills shortages, to infrastructure bottlenecks and limited growth finance. |
"Delivering solutions to these critical issues would go a long way to achieving the productivity gains we need." | "Delivering solutions to these critical issues would go a long way to achieving the productivity gains we need." |
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