Total Factor Productivity. 2019
The contribution of the Total Factor Productivity (PTF) to the growth of the Catalan economy was −0.2 points in 2019. The increase in the GDP of Catalonia (1.9%) is based on the contribution of the factors of production as whole, of 2.0 percentage points (1.3 points from labour and 0.7 points from capital). The deceleration of GDP in 2019 is explained exclusively by this smaller contribution of the PTF, as both the growth in full-time equivalent jobs and the capital stock accelerated slightly (by one tenth of a point in both cases). From a complementary perspective, this dynamic of the PTF reflects the decline in apparent labour productivity (−0.5%) in tandem with a decrease in capital stock per worker (−0.7%).
Idescat presents an updated set of records of Total Factor Productivity for the period 2000–2019. This new set of records has been prepared using the same methodology as the previous one, however the incorporation in the calculation of the estimates of the main aggregates obtained in the 2019 Benchmark Revision has modified all of the results of the reference period.