In particular, total factor productivity growth has slowed significantly over the past decade. Indeed, according to the national accounts, almost all the growth in output since the early 2000s has been accounted for by growth in labour and capital inputs, rather than by improving the way we use that labour and capital (Graph 4).
Graph 4  One important forecasting issue is whether this is likely to continue, or whether a return to closer-to-average productivity growth will see potential output grow a little more quickly than  6  BIS Review 167/2010  we have become accustomed to over the past decade.