Bloomberg News

Global Productivity Growth Weak in 2012: Conference Board

January 17, 2013

Worldwide productivity expanded 1.8 percent last year, the weakest in a decade outside the 2008-2009 recession, and won’t recover much this year, according to the Conference Board.

Productivity growth weakened from 2.3 percent in 2011 and 3.6 percent in 2010, the New York-based research group said in a report published today. Productivity will remain soft this year, growing 1.9 percent, according to the report.

“In 2013 and beyond, productivity will be key to the performance of the global economy,” Bart van Ark, the organization’s chief economist, said in the report.

Last year’s productivity weakness was attributed more to declining output than to labor-market performance, the Conference Board said.

To contact the reporter on this story: Simon Kennedy in London at skennedy4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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