The UK Productivity Puzzle
15 Pages Posted: 10 Jul 2014
Date Written: June 16, 2014
Labour productivity growth in the United Kingdom has been particularly weak since the start of the crisis. The recent strength in hiring and modest pickup in productivity growth suggest that spare capacity within firms is unlikely to explain much of the current weakness. Factors related to the nature of the financial crisis are likely to be having a persistent impact on the level of productivity — but there remains considerable uncertainty around any interpretation of the puzzle.
Suggested Citation: Suggested Citation
Barnett, Alina and Batten, Sandra and Chiu, Adrian and Franklin, Jeremy and Sebastia-Barriel, Maria, The UK Productivity Puzzle (June 16, 2014). Bank of England Quarterly Bulletin 2014 Q2, Available at SSRN: https://ssrn.com/abstract=2464034
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