Economic productivity fell in the first three months of this year, the first decline since late 2015, according the Office for National Statistics (ONS) today. The figures suggest a continuation of the “productivity puzzle”, the ONS said. The puzzle refers to the flatlining of productivity since 2010, which is unprecedented in the post-war era and is not unique to Britain.
According to the ONS, if the pre-2007 trend had continued then productivity would now be 16% higher than it actually is. Wages and living standards would also be higher.
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