Labor productivity in the UK as measured by output per hour fell 2.5 percent on quarter in the second quarter of 2020, following a 1.3 percent decrease in the previous period, a preliminary estimate showed. It was the largest decline in productivity since the series began in 1971, prompted by the pandemic crisis and restrictive measures to combat it. Output per hour was down primarily among constructors (-11.4 percent) and service providers (-2.5 percent) while manufacturing saw the smallest drop (-0.3 percent). Meantime, output per worker tumbled 19.9 percent, the steepest fall on record, mainly because of the impact of the furlough scheme that retains employees as workers even though they work zero hours. Compared with the same period a year earlier, output per hour fell 3 percent and per worker 22 percent.
Productivity in the United Kingdom averaged 75.58 points from 1971 until 2020, reaching an all time high of 101.90 points in the fourth quarter of 2019 and a record low of 42.40 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 2020. source: Office for National Statistics
Productivity in the United Kingdom is expected to be 98.50 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 99.10 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.