The Impact of the Financial Crisis on UK Company Performance

| Publication date: 7 Apr 2014 | Theme: Trade, Investment & Productivity | NIESR Author(s): Riley, R | External Author(s): Young, G

UK productivity fell sharply during the recession of 2008-9, and recovered only sluggishly after that. In levels terms, productivity is currently about 15 per cent below a simple extrapolation of its pre-crisis trend. This contrasts very sharply with the experience of other post-war recessions in the UK when the fall was less sharp and the recovery quicker; it is also very different from experience in the US, where productivity has held up quite well.