Gavyn Davies writes in an April 30, 2017 Financial Times piece that “there have been some signs that productivity growth may be starting to recover from the low points reached a few years ago.” Davies notes that Jan Hatzius from Goldman Sachs shows somewhat improving labor productivity growth starting in 2016 – Hatzius used official data and numbers from the Institute for Supply Management (ISM) purchasing manager’s index. And Juan Antolin-Diaz is slated to publish work in the Review of Economics and Statistic next month showing an increase in trend productivity growth from 0.3% in 2012 Q2 to 0.7% now. Davies himself, however, concedes that these numbers are tentative.
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