ANALYSIS OF RESULTS

MARKET SECTOR

On a quality adjusted hours worked basis, multifactor productivity (MFP) fell 0.1% in 2013-14 as total inputs of 2.5% outpaced gross value added of 2.3%. Capital services contributed 1.9%, hours worked contributed 0.3% and labour composition contributed 0.3%.

On a quality adjusted hours worked basis, labour productivity (LP) grew 1.3% in 2013-14. Labour productivity on this basis reflects a positive contribution from changes to labour composition, due to educational attainment and work experience.

INDUSTRIESIn 2013-14, eight of 16 industries recorded positive MFP growth, on a quality adjusted hours worked basis. Significant MFP growth was recorded for Arts and recreation services (+5.3%), Rental, hiring and real estate services (+4.5%) and Administrative and support services (+4.3%). The strongest MFP declines were for Other services (-5.8%), Electricity, gas, water and waste services (-5.2%) and Transport, postal and warehousing (-3.4%).

In 2013-14, on a quality adjusted hours worked basis, labour productivity (LP) growth was particularly strong for Information, media and telecommunications (+13.6%) and Arts and recreation services (+8.1%), mainly due to declines in labour inputs. Labour productivity growth for Mining was also significant (+7.9%), mainly due to gross value added increasing by 9.1% in 2013-14.


Note: The reported percentage changes are based on natural log growth x 100.