When looking at the two components of labour productivity growth – real gross value added and total hours worked – the figures reveal additional cross-country differences. In Germany, the productivity slowdown has been driven by a significant reduction in real output growth, while in France it mainly reflects a rise in labour input growth.
In Italy, the productivity downturn has been driven by both a significant drop in real gross value added growth and a strong increase in labour input growth. In Spain, the slower pace in labour productivity growth has been dominated by a stronger increase in labour input growth than in real output growth.