Labor productivity in the UK as measured by output per hour fell 0.5 percent on quarter in April-June 2021, following a revised 0.4 percent increase in the previous three-month period. Hours worked rose by 5.4 percent, while gross value added increased by 4.8 percent over the same period, likely because of the easing of lockdown restrictions across the UK, leading furloughed workers (who are disproportionately employed in less productive industries) to return to work. Output per hour grew by 3.1 percent quarter-on-year, but this comparison is with the low-point of productivity during the initial effects that the coronavirus pandemic had on the economy. source: Office for National Statistics
Productivity in the United Kingdom averaged 75.66 points from 1971 until 2021, reaching an all time high of 104.50 points in the third quarter of 2020 and a record low of 42.60 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 September of 2021.
Productivity in the United Kingdom is expected to be 101.50 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 102.70 points in 2022 and 102.90 points in 2023, according to our econometric models.