Productivity growth is closely related to growth in the standard of living and to business competitiveness.
There are various productivity growth measures. The choice between them depends on the purpose of productivity measurement and, in many instances, on data availability. In general, productivity measures can be grouped into two broad categories.
The first category is single-factor productivity where growth in output is compared with growth of a single input. The most commonly used single-factor productivity measure is labour productivity growth.
The second category is multifactor productivity—the difference in the growth in output minus the growth in a bundle of inputs… (more)
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