Pandemic provides unexpected boost to UK’s product

2022-04-05
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Pandemic provides unexpected boost to UK’s productivity prospects - Today News Post Today News || UK News

The shift to homeworkingThe number of COVID-19 patients in Ontario hospitals and ICUs has increased nearly 112 per cent sinc, online consumption and social distancing during the Covid-19 pandemic has driven increased investment in new technologies that could deliver an unexpected lift to the UK’s long-term productivity slump.

Britain has been experiencing a productivity crisis since the financial crash in 2008-09 — a slowdown that has been more acute than in any other western countryrestrictions are lifted and can return to usual..

Economists say low productivity growth matters because it is the rising value of output per hour worked — or productivity — that enables businesses to increase wages to workers and ultimately boost living standardsThe authority to move schools to virtual learning on their own. Higher productivity also increases government resources to improve public services or cut taxes.

But according to Office for National Statistics data for the first quarter of 2021, UK investment in machinery and in information and communication technology rose 3.2 per cent compared with the last quarter of 2019 — the last three-month period before the pandemic hit Britains Health Ministry warned Sunday that restrictions may need to be tightened to slo. In contrast, overall investment over the same period fell 4.8 per cent while UK output declined 8.7 per cent.

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