Recovery gaining pace

PRODUCTIVITY rose at its fastest pace for four years this spring – giving a boost to Britain’s recovery.

Figures from the Office for National Statistics (ONS) show the country’s economic output for every hour worked grew by 0.9 per cent over the second quarter of 2015.

This was our biggest increase since 2011, and means that Britain is now more productive than it was when the financial crisis struck.

If pre-recession trends had continued, our output per hour would now be around 15 per cent higher.

But James Sproule, chief economist at the Institute of Directors, called the latest figures ‘encouraging’. He said: ‘Doing more with less is key to boosting living standards.’