The reports out today from the ONS seem to be slightly conflicting the headline is a small rise but they do go onto say that if you look at
Output per hour, - which expresses the amount produced by a company after all its costs have been stripped out. The more efficient, or productive, the company, the greater its level of output per hour. -
the said output per hour remained 1% lower on average in the first quarter of 2015 compared with the same period in 2008.
and that productivity remained "exceptionally weak" across many industries.
So overall good news but with some strong provisos, labour costs are going up as are other costs but this is hard to pass on making the productivity ratio hard to increase.
Confidence should still be on the increase but some tough times still ahead for the SME sector.
The Office for National Statistics (ONS) said output per hour rose by 0.3% in the first three months of the year compared with the previous quarter. It added this measure or productivity had grown by 1.3% in the year to the end of March, the fastest rate of growth since the start of 2012.