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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United KingdomUnited Kingdom Labour Productivity QoQ fell to -0.8% in Q2 2026
FMPMonthlyReleased August 2026
United Kingdom Labour Productivity QoQ fell to -0.8% in Q2 2026, released August 2026, down 1.9% from March's 1.1% reading. The reading missed the -0.5% consensus by 0.3%. The print is running well below the 12-month average of 0.08%. Labour Productivity QoQ is now the lowest in 24 months.
Latest Release
-0.8
Actual
-0.5
Consensus
1.1
Previous
Median Absolute Error
±0.5 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: -0.5
Actual: -0.8
Error: +0.3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| GBP/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/GBP | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| GBP/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| FTSE 100 | ▲ Direct | +0.35 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Labour Productivity QoQ (United Kingdom) was reported at -0.8% in August 2026. This missed the market consensus of -0.5% by 0.3%. The reading fell from the previous value of 1.1%. Trailing 12-month context per ETL data through August 2026.
WHY IT MATTERS
The trailing three releases averaged -0.17%, down from the prior three at 0.27%. In August readings over the past 3 years, Labour Productivity QoQ has averaged -0.37%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with GBP/USD (Bullish GBP). A secondary relationship exists with EUR/GBP, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.5%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Employment Change (Sep 15) and Average Earnings incl. Bonus (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Labour Productivity QoQ - UK
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About Labour Productivity QoQ — United Kingdom
DEFINITION
Labour Productivity QoQ is a financial indicator that measures the change in the amount of goods or services produced per hour worked in a given quarter. It provides valuable insights into the efficiency and effectiveness of a country's workforce and can be used to assess the overall health and growth of an economy. A positive QoQ (quarter-over-quarter) change in labour productivity indicates an increase in output per hour worked, while a negative change may suggest a decline in productivity. This indicator is closely monitored by economists, policymakers, and investors as it can impact economic growth, inflation, and wages.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual -0.8 %, consensus -0.5 %. Prior reading (Jan 2026): 0.9 %. Before that (Oct 2025): -0.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with GBP/USD (Bullish GBP, r=0.50) — a useful reference for forex-focused traders.
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Economic Calendar - UK Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | UK | HMRC Payrolls Change | -13 | -4 | 37.00 | Low | |
| 06:00 | UK | Claimant Count Change | -11 | 8.3 | 11.00 | Low | |
| 06:00 | UK | Employment Change | 83 | 70 | 82.50 | High | |
| 06:00 | UK | Average Earnings excl. Bonus | 3.5 | 3.5 | 3.60 | Low | |
| 06:00 | UK | Average Earnings incl. Bonus | 4.1 | 3.9 | 4.10 | Medium | |
| 06:00 | UK | Unemployment Rate | 4.9 | 5 | 4.95 | High | |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 06:00 | UK | Retail Price Index MoM | 0.6 | 0.7 | 0.55 | Low | |
| 06:00 | UK | Retail Price Index YoY | 3.2 | 3.5 | 3.40 | Low | |
| 06:00 | UK | PPI Core Output YoY | 2.8 | 2.9 | 2.85 | Low | |
| 06:00 | UK | PPI Input MoM | -1.7 | -0.6 | -0.75 | Low | |
| 06:00 | UK | PPI Core Output MoM | 0.6 | 0.4 | 0.60 | Low | |
| 06:00 | UK | Core Inflation Rate MoM | 0.2 | 0.1 | 0.05 | Low | |
| 06:00 | UK | Inflation Rate MoM | 0.3 | 0.5 | 0.40 | Medium | |
| 06:00 | UK | Inflation Rate YoY | 2.9 | 3.1 | 3.00 | High | |
| 06:00 | UK | PPI Output MoM | 0.2 | 0.1 | 0.10 | Low | |
| 06:00 | UK | PPI Output YoY | 3.1 | 3.1 | 3.10 | Low | |
| 06:00 | UK | Core Inflation Rate YoY | 2.6 | 2.7 | 2.65 | Medium | |
| 06:00 | UK | PPI Input YoY | 4.9 | 4.7 | 4.65 | Low | |
| 08:30 | UK | House Price Index YoY | 2 | 2.1 | 2.60 | Low | |