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Top 40 UK universities for Economics.

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Productivity update

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The productivity puzzle continues

Labour productivity using the ONS’s headline measure of output per hour, fell by 0.1% in the second quarter of 2017 (April to June, 2017). This means that productivity is still below the level reached in the period immediately before the economic downturn.

Percentage change on previous quarter

Previous reports

Ist quarter, 2017

Productivity – as measured by output per hour – fell by around 0.5% in the first quarter of 2017, taking it back below its peak level of 2007, according to figures released by the ONS. The poor figures are seen as further evidence of the UK's 'productivity puzzle'.

UK productivity (as measured by output per hour) is estimated to have grown by 0.4% between the 2nd and 3rd quarters of 2016, according to figures release by the ONS (Jan 6th 2016). Despite the growth, there remains a ‘productivity puzzle’, with growth in productivity lower than before the economic downturn. The overall growth figures also hide the problem of poor manufacturing productivity, which fell by 0.2%, masked only by rising productivity in the service sector.

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