As the UK leaves the European Union and looks for new trading partners, it is important to be able to examine the efficiency in production of UK goods and services. This has a significant effect on the relative competitiveness of the UK in international markets.
Paul Turner discussed UK productivity in ECONOMIC REVIEW in February 2018, focusing on the ranking of the UK compared with other economies, and looking at the relationship between productivity and its growth rate. In this article, I want to look at alternative measures of productivity and what they tell us.
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