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ONS figures show UK productivity weak before pandemic

Office for National Statistics (ONS) figures have showed that UK productivity was up 0.3% year-on-year in the last quarter of 2019, barely surpassing levels seen during the 2008 financial crisis. The ONS stated: “In historical terms 0.3% is still a very low productivity growth rate, significantly below the post-2008 economic downturn median,” while Howard Archer, chief economic adviser to the EY Item Club, noted that “coronavirus is bound to take a major near-term toll on business investment.”

Read more : City AM


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