The UK Office for National Statistics has just issued time series data for labour productivity across a number of years and for a number of sectors. Quite interesting (for productivity nerds like me) but ultimately unhelpful in so far as the level of aggregation is so high that it has no effect on behaviour or future performance.
What the government needs to know is … What do we need to do to make the data move in the right direction?
Interpreting this data – to result in strategy – is difficult.
The old adage – You get what you measure – fails at this level of aggregation.