This, along with the measures I mentioned earlier, helps to explain why there has recently been such a significant lift in the rate of growth of productivity. A big lift in productivity growth has a beneficial effect on many areas of the economy. A lot of it is passed through to consumers and, in the process, this makes it easier to maintain low inflation.
Some of it can also make businesses more profitable, which is, after all, the incentive that drives much of the efforts towards improving productivity in the first place.