LONDON: UK must fix its productivity problem to secure future economic growth and improve living standards, a leading think tank warns as it highlights a failure to grow output per UK worker since the downturn.
The Organisation for Economic Co-operation and Development (OECD) has also downgraded its outlook for the UK this year but still sees it enjoying one of the fastest growth rates among advanced economies. Growth in 2015 is now projected to be 2.6%, matching last year’s pace but down from a forecast for 2.7% made in November. The 2016 forecast remains at 2.5% GDP growth.
