Business NZ is this week sending out a study on why higher productivity is so important to New Zealand.
Productivity Perspectives shows that our productivity record compares poorly with that of Australia, the US and other developed countries.
Business NZ Chief Executive Phil O’Reilly says the book is a layperson’s look at an issue that makes a huge difference between economic growth and stagnation.
“Higher productivity allows business owners to invest more in people and plant, generating more employment growth and enabling more competitive prices. It’s one of the main differences between high-growth high-employment countries like the US, Ireland or Korea, and lower-growth countries with many more unemployed.
“Productivity Perspectives recommends ten action points that would help New Zealand raise its level of productivity growth, currently less than 1.5% a year, compared with around 2% in other developed nations.”
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