UK productivity growth falls to two-year low for third quarter 2018

British productivity growth slowed to a two-year low during the three months to September last year, as economic output grew more slowly than the number of hours people spent at work, the Office for National Statistics said on Wednesday.

The ONS said output per hour annual growth in output per hour slowed to 0.2 percent in the third quarter of 2018 from 1.6 percent in the second quarter, its weakest growth rate since the third quarter of 2016.

Unit labour costs — the amount employers pay staff in wages and other costs for a fixed amount of output — picked up to an annual rate of 2.8 percent from 2.1 percent, the biggest rise since the first three months of 2017.