Productivity Measures Statistics

PDF Download as PDF

Download PDF

Abstract

Productivity is a measure of how efficiently inputs (capital and labour) are used within the economy to produce outputs. Productivity is commonly defined as a ratio of a volume measure of output to a volume measure of input. Growth in productivity means that a nation for example can produce more output from the same amount of input, or the same level of output from fewer inputs. Productivity growth is an important contributing factor to a nation’s long-term material standard of living.

Purpose

Productivity analysis aims to explain the drivers of output growth. Output growth can be attributed to either an increase in labour or capital input, more efficient utilisation of inputs, or a combination of both. Productivity measures can be either single factor (that is, relating a measure of output to a single measure of input), or multifactor (that is, relating a measure of output to total inputs). Labour and capital productivity are single (or partial) factor productivity measures; they show productivity growth in terms of that particular input. Multifactor productivity (MFP) takes into account substitution between labour and capital inputs, and is therefore not directly affected by a change in the mix of inputs. Productivity measures cover a subset of the economy referred to as the ‘measured sector’. Further detail can be found in the section 'Industry coverage – the measured sector'. Series for output, labour inputs, and capital inputs are used for deriving partial productivity estimates. The two primary inputs (labour and capital) are combined to form a composite input index, which then allows for the residual calculation of MFP. A change in MFP reflects the change in output that cannot be accounted for by changes in the measures of labour and capital inputs.

Citation Information

Title

Productivity Measures Statistics

Publisher

Statistics New Zealand

Rights

Statistics New Zealand

Coverage Information

Temporal Coverage

  • 1978 to 2015

Topical Coverage

  • Macroeconomic statistics
  • Economic accounts

Other

Significant events impacting this study series

Frequency

4) Annual

Main users of the data

Productivity Commission
Productivity Hub
The Treasury
Reserve Bank of New Zealand
Media, policy analysts and consultants

Revision Information

Currently viewing revision 41 by on 31/01/2018 12:59:57 a.m.

Revision 41 *
31/01/2018 4:11:42 a.m.
Revision 37
20/09/2016 10:03:03 p.m.

Identifiers

DDI Agency
nz.govt.stats
DDI Id
d2d0ded2-dc45-4033-9b5b-3807c2b4edab
DDI Version
41

Download

DDI 3 Download

Select the languages to display