In last week’s Economics Weekly we discussed our belief that productivity growth is very likely at its nadir and there are good reasons to be optimistic about at least a moderate increase in the pace of its growth in the coming years. This would seem to be in contrast to the consensus, which expects future productivity growth to remain at its current weak levels. The question we ask in this week’s Economics Weekly is: what implications does a possible improvement in productivity have for financial markets?
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Richard de Chazal, CFA is a London-based macroeconomist covering the U.S. economy and financial markets.