Total Factor Productivity (PTF). 2016

06.13.2017

The contribution of total factor productivity to the growth of the Catalan economy was 1.4 percentage points in 2016. The GDP of Catalonia rose 3.4% year on year for the same period, which would explained by the contribution of TFP and factors work and capital which contributed 1.7 and 0.3 percentage points respectively to growth.

Productivity and economic growth accounts were newly included in the Regulation by the European Parliament and Council on the European Union System of National and Regional Accounts, number 449/2013, of May 21st, 2013.

In order to measure the productivity of the economy, the Regulation recommends the use of so-called multi-factor productivity, or total factor productivity (TFP). The TFP encompasses the impact of any factor that alters the function of production, but not only technically-related progress, as it includes organisational innovations, economies of scale, better worker training, sectoral reassignment of resources, etc.

The data for Catalonia are annually prepared by Idescat and the Ministry of the Vice-presidency and of the Economy and Finance. The data for Spain is prepared by the European Commission.

Total Factor Productivity

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