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27th Nov 2023 21:25UK, Daily Monitor

  • The OBR expects growth in output per hour of 1.0% y/y over the next five years, above the 2010s average, 0.7%...
  • ...But it has averaged 0.5% since 2019, and that assumes employment has risen as slowly as the LFS implies.
  • Productivity in the manufacturing sector will eventually snap back, but a wider acceleration isn’t likely.

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Keywords for: 29 November 2023 UK Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence