Figure 1: Productivity, as measured by output per hour, was 18.3% beneath its pre-downturn trend

Output per hour and output per worker, seasonally adjusted, UK, Quarter 1 (Jan to March) 1994 to Quarter 4 (Oct to Dec) 2018

Source: Office for National Statistics

Notes:

Differences between these two measures are due to differences in the denominator used in the calculation. Using the actual output per hour series as the denominator, rather than the trend series, results in a higher percentage gap. This is due to the actual series being lower than the trend series post-downturn.