Labor productivity in the UK as measured by output per hour rose 5.2 percent on quarter in the third quarter of 2020, following a 2 percent drop in the previous period, flash estimates showed. Year-on-year, output per hour went up 3 percent, driven by gross value added (GVA) falling less over the year than hours worked. Compared with the previous year, GVA fell by 9.5 percent, whereas hours worked fell by 12.1 percent. source: Office for National Statistics
Productivity in the United Kingdom averaged 75.40 points from 1971 until 2020, reaching an all time high of 103 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 November of 2020.
Productivity in the United Kingdom is expected to be 99.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Productivity in the United Kingdom to stand at 99.50 in 12 months time. In the long-term, the United Kingdom Productivity is projected to trend around 100.00 points in 2021 and 101.10 points in 2022, according to our econometric models.