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UK productivity slides at fastest rate in five years: ONS

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Via Yahoo Finance

LONDON (Reuters) – Productivity in Britain contracted at the fastest annual pace in five years during the second quarter, according to official data on Tuesday that underline a persistent weak spot in the economy.

Output per hour worked fell 0.5% year-on-year in the April to June period after stagnating in the first three months of 2019, the biggest drop since the second quarter of 2014, the Office for National Statistics said.

It fell 0.2% quarter-on-quarter, extending a 0.5% quarterly drop seen in early 2019, the ONS added.

(Reporting by Andy Bruce, editing by David Milliken)

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