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About the April 2021 release
This release includes updated and revised estimates of the labor productivity variables. Updated and revised growth accounting variables (including TFP) are scheduled to be released in July 2021. See our change notes for the most important changes. Please create an account with The Conference Board for complimentary access to all data files.
Global Productivity Growth Remains Weak, Extending Slowing Trend
Global productivity fell in 2020 but it will recover through 2021, according to the latest release of annual productivity growth rates for 131 countries by The Conference Board. Globally, growth in output per worker fell 0.9 percent in 2020 after rising 1.0 percent in 2019, but is projected to rebound to 2.9 percent growth in 2021. These productivity improvements are unlikely to be sustained, however, as they are driven by the global economy reopening amid a waning pandemic. The latest estimates extend the downward trend in global labor productivity growth from an average annual rate of 2.6 percent between 2000-2007 to 1.7 percent between 2011-2019. The latter is roughly the same as the average growth rate of output per worker in 2019-2021.
CHART 1: Global labor productivity growth (% change)
Source: The Conference Board Total Economy Database™ April 2021.