Zoe Wallis: Forsyth Barr Investment Strategist on productivity data continuing to decline post-Covid

Productivity’s taken another hit.  Stats NZ data shows a 0.9% decline in multifactor productivity in the year to March, and while labour productivity increased 0.8%, it was a result of hours dropping faster than outputs.   Primary industries are doing the heavy lifting, with a 72% increase in goods and services per hour.  Forsyth Barr Investment Strategist Zoe Wallis told Mike Hosking that productivity has been a long-standing issue – the current situation is about 50 years in the making, based on the data.   We haven’t managed to turn the slow-moving ship around, she says, which will take time and a lot of cohesive policy from successive governments.   LISTEN ABOVE See omnystudio.com/listener for privacy information.