Australian productivity remains poor

Friday 4 December 2015

The ABS has today released data on Australia’s multi-factor productivity (MFP) growth, which remains poor:

MARKET SECTOR

On an hours worked basis, market sector multifactor productivity (MFP) grew 0.3% in 2014-15 reflecting a 2.2% increase in gross value added and a 1.9% increase in total labour and capital inputs. Capital services grew 3.3% and hours worked grew 0.8%. On a quality adjusted hours worked basis, MFP fell 0.1% in 2014-15.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.