Household debt: statistics and impact on economy
This briefing provides statistics and forecasts for household debt, guidance on how to interpret debt statistics and analysis on how debt effects the economy.
Latest statistics showing changes in UK productivity and comparisons of UK productivity with other G7 countries.
Productivity: Key Economic Indicators (70 KB , PDF)
One of the most important factors in determining living standards is productivity – how much output is produced for a given input (such as an hour of work).
In Q1 2024, productivity was estimated to be 0.1% higher compared with a year ago (Q1 2023), according to the latest Office for National Statistics (ONS) flash estimate. Productivity was down by 0.3% compared with the previous quarter and was 1.0% higher compared to before the pandemic in Q4 2019.
Historically, UK labour productivity has grown by around 2% per year but since the 2008/2009 recession it has risen more slowly (see chart above). The effects of the pandemic presented significant challenges in the measurement of productivity, but it appears the pre-pandemic trend of sluggish productivity growth has continued.
In 2022, ranked on GDP per hour worked, the UK came fourth highest out of the G7 countries, with the US and Germany highest and Japan lowest. UK productivity was around 16% below the US and Germany.
Productivity: Key Economic Indicators (70 KB , PDF)
This briefing provides statistics and forecasts for household debt, guidance on how to interpret debt statistics and analysis on how debt effects the economy.
Analysis of the latest UK and international economic indicators
The Trussell Trust, an anti-poverty charity that operates a network of food banks across the UK, reported a 37% increase in the number of three-day emergency food parcels it distributed between 31 March 2022 and 1 April 2023, compared to the year before.