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The weakness in activity has also been accompanied by exceptionally weak productivity.
Weak productivity growth is the first.
The weak productivity scenario has markedly worse outcomes.
Economists said that if capital spending remained weak, productivity growth would remain muted.
Weak productivity has also contributed to Italy's gradually widening competitiveness gap.
Research on demand side explanations for weak productivity are beginning to emerge.
The OECD has highlighted the UK's relatively weak productivity performance and slow wage growth.
Instead Mr Hammond focused on the United Kingdom's achilles heel: weak productivity growth.
This, combined with weak productivity growth, has resulted in sluggish wage rises.
Weak productivity is problematic because it signals weaker economic growth, therefore eroding the public finances.
The UK economy also continues to suffer from very weak productivity growth.
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