PRODUCTIVITY

Sir Nicholas Soames: To ask the Secretary of State for Business, Innovation and Skills, what the increase in the UK's total factor productivity was in each of the last 15 years.

Matthew Hancock, Minister of State for Business and Enterprise, Minister for Portsmouth: The Office for National Statistics (ONS) have published experimental estimates of Multi-Factor Productivity (MFP), which is the terminology the ONS uses for total factor productivity. This is shown in Table 1.

Table 2 displays an index of these data, showing cumulative growth in MFP over the last 15 years.
 
Table 1: Annual Growth Rate of Multi-Factor Productivity

Year

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013
 

0.96

2.02

0.87

1.13

2.71

1.21

0.27

1.54

0.58

-0.94

-4.62

0.91

0.39

-1.81

-0.53
 
Table 2: Multi-Factor Productivity (1998=100)

Year

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013
 

101.0

103.0

103.9

105.0

107.7

108.9

109.2

110.7

111.3

110.4

105.7

106.6

107.0

105.2

104.7

 

Source: Multi-factor Productivity (experimental), Estimates to 2013, ONS (Jan 2015) http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=...

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