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Financial News: UK Labor Productivity Rises In Q4

UK Labor Productivity Rises In Q4

04/07/2020 - 08:46:00 (RTTNews)

(RTTNews) - UK labor productivity increased for the second straight time in the fourth quarter of 2019, the Office for National Statistics reported Tuesday.

Output per hour grew 0.3 percent compared with the fourth quarter a year ago, the same rate as seen in the third quarter. This was the second consecutive rise.

However, in historical terms 0.3 percent is still a very low productivity growth rate, the ONS said.

The 0.3 percent growth in output per hour was largely caused by a strong performance from construction, while manufacturing made the largest negative contribution to whole-economy productivity growth.

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