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Productivity Stagnates for the 5th Straight.>

UK DATA
UK DATA: Productivity Stagnates for the 5th Straight Quarter
- UK Q3 Output per Hour unchanged y/y vs -0.5% Apr-Jun
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UK productivity stagnated in Q3, with output per hour unchanged over the 
same period of 2018, following an unrevised 0.5% decline in Q2. 
Productivity has not increased since Q2 2018, the longest stretch of 
weakness since the five quarters ending in Q3 2009. Bank of England rate 
setters discussed productivity weakness at their latest rate-setting 
meeting, noting an increase in unit wage costs earlier in the year due 
to the stagnation of output per hour. 

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