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UK productivity picks up strongly in second half of 2017: stats agency

Published 04/06/2018, 05:09 AM
Updated 04/06/2018, 05:10 AM
© Reuters. FILE PHOTO: A worker loads boxes at a port in Newlyn

LONDON (Reuters) - Britain's economy chalked up solid productivity growth in the last three months of 2017 to record its strongest six months in more than a decade, figures showed on Friday.

Economic output per hour worked rose by 0.7 percent in the fourth quarter of 2017 - above its long-run average though a shade less than first estimated in February - and the third-quarter figure was revised up slightly to 1.0 percent. Together they show the strongest growth since the second half of 2005.

© Reuters. FILE PHOTO: A worker loads boxes at a port in Newlyn

British productivity has largely stagnated over the past decade and overall output per hour, a driver of living standards, is only 1.8 percent above the pre-financial crisis peak it reached at the end of 2007.

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