Productivity trends show divergent patterns in Argentina and the United Kingdom

A report by IERAL indicates that Argentina has experienced a decline in productivity despite an increase in labor hours. Between 2016 and 2025, worked hours rose by 11%, while production grew by only 3%. Labor productivity is estimated to be 6% lower than in 2016, and total factor productivity fell by 7%. While capital services grew by 14%, this did not translate into general performance improvements. Sectoral impacts varied significantly: mining saw a 21% productivity increase, whereas hotels and restaurants, commerce, and construction experienced declines ranging from 11% to 16%.

In the United Kingdom, the Office for National Statistics (ONS) has revised its productivity measurements upward. The cumulative growth in productivity per hour worked rose from 34% to 40.7% following a methodological change. The revision stems from a correction in how vacation time is recorded; previous household surveys underestimated the number of days taken off. The new methodology cross-references household surveys with administrative company records to more accurately subtract holidays, sick leave, and other non-worked time, revealing that the economy produces more per hour than previously reported.