Italian productivity down in 2016 - ISTAT (2)

Rome, November 15 - Multifactor productivity decreased by 0.4% in Italy in 2016, ISTAT said on Wednesday. The drop is a reversal after increases registered in the 2009-2014 period and in 2015, the national statistics agency said. Overall labour productivity in the measured sectors fell by 1.0% in 2016, as value added increased by 0.9% and hours worked increased by 1.9%, ISTAT said. "The decrease in labour productivity in 2016 was accounted for by a fall in capital deepening (i.e. a reduction of capital input relative to labour input) which contributed -0.6 percentage points, with total factor productivity accounting for -0.4 percentage points," the agency said. "Over the entire period 1995-2016, the average annual growth rate in value added was 0.6%".