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United Kingdom **Productivity Stats**

#### Definitions

- Growth accounts for OECD countries > Contributions to GDP growth > ICT capital: The growth accounting approach is based on the micro-economic theory of production and directly related to the calculation of multi-factor productivity (MFP) growth. MFP growth is measured by deducting from output growth the growth of labour and capital inputs. Turned around, the same relation can be used to explain output growth by the rates of change of labour and capital inputs and by MFP growth.In these calculations, the growth rate of labour and capital inputs is weighted with their share in total costs. Thus, the contribution of labour to GDP growth is measured as the speed with which labour input grows, multiplied by the relative importance of labour captured by its share in total costs. The growth contributions of capital or of certain types of capital are measured in a similar way so that the growth contribution always reflects two effects, the growth rate of the input and its relative importance in production.
- Growth accounts for OECD countries > Contributions to GDP growth > Labour input: The growth accounting approach is based on the micro-economic theory of production and directly related to the calculation of multi-factor productivity (MFP) growth. MFP growth is measured by deducting from output growth the growth of labour and capital inputs. Turned around, the same relation can be used to explain output growth by the rates of change of labour and capital inputs and by MFP growth.In these calculations, the growth rate of labour and capital inputs is weighted with their share in total costs. Thus, the contribution of labour to GDP growth is measured as the speed with which labour input grows, multiplied by the relative importance of labour captured by its share in total costs. The growth contributions of capital or of certain types of capital are measured in a similar way so that the growth contribution always reflects two effects, the growth rate of the input and its relative importance in production.
- Growth accounts for OECD countries > Contributions to GDP growth > Multi-factor productivity: The growth accounting approach is based on the micro-economic theory of production and directly related to the calculation of multi-factor productivity (MFP) growth. MFP growth is measured by deducting from output growth the growth of labour and capital inputs. Turned around, the same relation can be used to explain output growth by the rates of change of labour and capital inputs and by MFP growth.In these calculations, the growth rate of labour and capital inputs is weighted with their share in total costs. Thus, the contribution of labour to GDP growth is measured as the speed with which labour input grows, multiplied by the relative importance of labour captured by its share in total costs. The growth contributions of capital or of certain types of capital are measured in a similar way so that the growth contribution always reflects two effects, the growth rate of the input and its relative importance in production.
- Growth accounts for OECD countries > Contributions to GDP growth > Non-ICT capital: The growth accounting approach is based on the micro-economic theory of production and directly related to the calculation of multi-factor productivity (MFP) growth. MFP growth is measured by deducting from output growth the growth of labour and capital inputs. Turned around, the same relation can be used to explain output growth by the rates of change of labour and capital inputs and by MFP growth.In these calculations, the growth rate of labour and capital inputs is weighted with their share in total costs. Thus, the contribution of labour to GDP growth is measured as the speed with which labour input grows, multiplied by the relative importance of labour captured by its share in total costs. The growth contributions of capital or of certain types of capital are measured in a similar way so that the growth contribution always reflects two effects, the growth rate of the input and its relative importance in production.
- Labour productivity growth > GDP per hour worked: The output measures used for calculations are Gross Domestic Product estimates from OECD Annual National Accounts database, based on the 1993 System of National Accounts. Labour input measures used are estimates of the hours actually worked. They reflect regular hours worked by full-time and part-time workers, paid and unpaid overtime, hours worked in additional jobs and time not worked because of public holidays, annual paid leaves, strikes and labour disputes, bad weather, economic conditions and other reasons.

## Citation

### Did you know

- United we stand? The United Kingdom and United States are both in the top ten for Gross Domestic Product - and for child poverty.

## United Kingdom Economy > Productivity Profiles (Subcategories)

Growth accounts for OECD countries 4 |