Released 24 / 10 / 2024

This paper considers revisions to quarterly productivity growth estimates and finds that measured labour productivity does not approach a ‘true’ estimate; rather, the figure is consistently changing. In light of this, it discusses two possible options to interpret labour productivity data:

• applying confidence intervals helps inform the reliability of the quarterly estimates
• relying on the longer term trend of productivity (such as productivity through the year) reduces the volatility and improves the reliability of the estimates.