Labor productivity in the UK as measured by output per hour rose 0.7 percent on quarter in January-March 2021, compared with a preliminary estimate of a 0.8 percent increase and a 4.3 percent slump in the previous three-month period, as both gross value added and total hours worked fell. Year-on-year, productivity increased 0.9 percent, after a 0.7 percent decline in the previous quarter. Meanwhile, output per worker decreased by 1.8 percent compared with the previous quarter and by 4.7 percent year-on-year, reflecting workers retaining employment through the Coronavirus Job Retention Scheme (CJRS), while not producing output. 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 July 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. Looking forward, we estimate Productivity in the United Kingdom to stand at 102.50 in 12 months time. 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.