Labor productivity in the UK as measured by output per hour decreased by 0.7% on quarter in the first three months of 2022, following a 1.3% increase in the previous period, preliminary estimates showed. However, it remains 1.9% above its pre-coronavirus pandemic levels. This improvement compared with the pre-coronavirus pandemic peak does not appear to be significantly different to that which can be projected using the 2009 to 2019 trend, suggesting that no fundamental change in productivity behaviour resulting from the coronavirus pandemic is yet visible in these data. The quarter-on-quarter fall was driven by a 1.4% increase in hours worked. Hours worked grew faster than GVA over the quarter but remained 1.0% below their pre-coronavirus pandemic level. GVA was 0.9% above pre-coronavirus pandemic levels. source: Office for National Statistics
Productivity in the United Kingdom averaged 76.14 points from 1971 until 2022, reaching an all time high of 106 points in the third quarter of 2020 and a record low of 43.30 points in the first quarter of 1971. This page provides the latest reported value for - United Kingdom Productivity - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Productivity - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Productivity in the United Kingdom is expected to be 102.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Productivity is projected to trend around 102.90 points in 2023 and 103.20 points in 2024, according to our econometric models.