UK Labor Productivity Rebounds in Q4, Ending Yearlong Decline

Labor productivity in the United Kingdom, measured by output per hour worked, rose by 0.7% in the fourth quarter of 2024, rebounding from a revised 1.1% fall in the previous three-month period and breaking a four-quarter streak of decline, a preliminary estimate showed.

On a year-over-year basis, productivity fell by 0.8%, as hours worked rose by 2.2% while output grew by 1.4%.

Despite this decline, productivity remained 1.6% above pre-pandemic levels, driven by a 3.8% rise in output and a 2.1% increase in hours worked since before the COVID-19 crisis.