This is a reasonable approach to further the implementation of the Lisbon strategy in a context where structural reform is the responsibility of Member States. In the absence of sufficient progress in structural reform, weak productivity growth has contributed to the low growth performance observed in the euro area in recent years.
In the 1980s, the annual growth rate of labour productivity per hour worked was on average 2.3% in the euro area. It significantly decelerated during the 1990s to reach an average of 1.2% over the period 1996-2003. As a consequence, the gap with the United States has widened over recent years.