This paper explores the slowdown in labour productivity growth in the UK and other advanced economies by decomposing its growth into contributions from different sectors of the economy, looking at both within-industry productivity growth and labour reallocation between sectors. We find that the within-industry contribution is the main source of the slowdown. Comparing trends pre- and post-2008, the aggregate productivity slowdown can be attributed largely to the manufacturing sector and the information and communication (ICT) sector. Disaggregating further, the UK productivity growth slowdown can be attributed mainly to transport equipment and pharmaceuticals within manufacturing, and computer software and telecommunications within ICT. Strikingly, these are advanced, high value-added sectors considered to be strengths of the UK economy. Looking across other advanced economies, our results confirm that manufacturing and ICT sectors are the main drivers of the slowdown, to differing degrees. Part of the explanation for the slowdown in in these sectors may relate to the underlying question of how to construct deflators for a modern economy when technological and structural changes are leading to large relative price shifts. The structure and supply chains of the key slowdown sectors also merit further investigation.

中文翻译：

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诊断英国生产率放缓：哪些部门很重要，为什么？

本文通过将其增长分解为不同经济部门的贡献，探讨了英国和其他发达经济体劳动生产率增长的放缓，同时考察了行业内生产率增长和部门之间的劳动力重新分配。我们发现行业内的贡献是放缓的主要来源。比较 2008 年前后的趋势，总体生产率放缓可主要归因于制造业和信息通信 (ICT) 行业。进一步分解，英国生产率增长放缓主要归因于制造业中的运输设备和药品，以及 ICT 中的计算机软件和电信。引人注目的是，这些先进的高附加值行业被认为是英国经济的优势。纵观其他发达经济体，我们的结果证实，制造业和 ICT 行业在不同程度上是经济放缓的主要驱动力。对这些行业放缓的部分解释可能与一个根本问题有关，即当技术和结构变化导致相对价格大幅变动时，如何为现代经济构建平减指数。关键放缓行业的结构和供应链也值得进一步研究。对这些行业放缓的部分解释可能与一个根本问题有关，即当技术和结构变化导致相对价格大幅变动时，如何为现代经济构建平减指数。关键放缓行业的结构和供应链也值得进一步研究。对这些行业放缓的部分解释可能与一个根本问题有关，即当技术和结构变化导致相对价格大幅变动时，如何为现代经济构建平减指数。关键放缓行业的结构和供应链也值得进一步研究。