BoE Quarterly Figures

BoE Quarterly Figures.

The Bank of England (BoE) has expressed how it is stumped how productivity is 16% lower than the pre-recession trend. The data in their latest quarterly review showed that even with taking into account new measures etc, the low level of productivity is remarkably weak.

The figures show that even though businesses are hiring more and spending more on staff training, productivity is still low.

There are some possible explanations being made about this low productivity, for example during the starting stages of the recession companies may have adjusted to the crisis by holding onto labour and lowering levels of factor utilization.

Experts are now currently trying to work out why the UK’s productivity is the way that it is. They have even compared it to other economies. Although comparing economies is probably not the most accurate decision, it shows differences in what economies are experiencing since the crisis.