{"id":1686,"date":"2025-08-13T07:58:59","date_gmt":"2025-08-13T07:58:59","guid":{"rendered":"https:\/\/techanalysisnews.gr\/?p=1686"},"modified":"2026-08-24T22:16:42","modified_gmt":"2026-08-24T22:16:42","slug":"productivity-challenge-for-uk","status":"publish","type":"post","link":"https:\/\/techanalysisnews.gr\/en\/productivity-challenge-for-uk\/","title":{"rendered":"The Great Productivity Challenge in the UK \u2013 Analysis by Mike Bell, CFA"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"1686\" class=\"elementor elementor-1686\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8d48836 e-con-full e-flex e-con e-parent\" data-id=\"8d48836\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6f547a0 elementor-widget elementor-widget-html\" data-id=\"6f547a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<section id=\"mikebell-article\" lang=\"el\">\n  <style>\n    \/* ===== Scoped styles \u03bc\u03cc\u03bd\u03bf \u03b3\u03b9\u03b1 \u03b1\u03c5\u03c4\u03cc \u03c4\u03bf section ===== *\/\n    #mikebell-article{\n      max-width:920px;margin:0 auto;padding:1rem 1rem 2rem;\n      font-family:system-ui,-apple-system,Segoe UI,Roboto,Arial,sans-serif;\n      line-height:1.8;color:#111;\n      -webkit-text-size-adjust:100%;\n      overflow-x:hidden; 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Head of Investment Specialists, EMEA &amp; Asia\">\n          <meta itemprop=\"affiliation\" content=\"J.P. Morgan Asset Management (Global Liquidity)\">\n        <\/span>\n      <\/strong>\n      \u2014 Market Strategist and Head of Investment Specialists for EMEA &amp; Asia at <em>JP Morgan Asset Management (Global Liquidity)<\/em> \u2014 clearly presents two issues that define the outlook for the British economy: chronic productivity weakness and persistent pressures on the private sector labour market. Its central thrust is simple but demanding: to raise real wages and living standards, output per hour worked must increase, without this meaning fewer jobs.\n    <\/p>\n\n    <h2>The big picture of productivity<\/h2>\n    <p>According to Bell, since 2008, productivity in the UK has been growing at a significantly lower rate than before the global financial crisis. The first figure clearly shows that the post-2008 trajectory is below the pre-crisis \u201ctrend\u201d. This is the starting point: the economy is working, but it is producing less per hour than by old standards.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 1 \u2014 \u0397 \u03c3\u03c5\u03bd\u03bf\u03bb\u03b9\u03ba\u03ae \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1 \u03bc\u03b5\u03c4\u03ac \u03c4\u03bf 2008 \u03ba\u03b9\u03bd\u03b5\u03af\u03c4\u03b1\u03b9 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03ba\u03ac\u03c4\u03c9 \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd \u03c0\u03c1\u03bf \u03ba\u03c1\u03af\u03c3\u03b7\u03c2 \u03c4\u03ac\u03c3\u03b7.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_1-scaled.png\" alt=\"Total productivity: post-2008 vs pre-2008 trend\">\n      <figcaption><strong>Slide 1:<\/strong> The post-2008 trajectory is noticeably lower than the old trend.<\/figcaption>\n    <\/figure>\n\n    <p>The second critical observation is that the pre-2008 productivity \u201cmiracle\u201d was overly fueled by the financial sector and was unsustainable. After the crisis, the same sector went from being a driver to a drag on overall productivity\u2014which explains why a return to the old trajectory does not happen automatically.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 2 \u2014 \u039f \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03c0\u03b9\u03c3\u03c4\u03c9\u03c4\u03b9\u03ba\u03cc\u03c2 \u03ba\u03bb\u03ac\u03b4\u03bf\u03c2: \u03b1\u03c0\u03cc \u03c0\u03b7\u03b3\u03ae \u03c6\u03b1\u03b9\u03bd\u03bf\u03bc\u03b5\u03bd\u03b9\u03ba\u03ae\u03c2 \u03c0\u03c1\u03bf-2008 \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2 \u03c3\u03b5 \u00ab\u03b2\u03b1\u03c1\u03af\u03b4\u03b9\u00bb \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03ba\u03c1\u03af\u03c3\u03b7.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_2-scaled.png\" alt=\"Financial sector and productivity\">\n      <figcaption><strong>Slide 2:<\/strong> The productivity gains in finance have not proven sustainable.<\/figcaption>\n    <\/figure>\n\n    <p>Looking at the industries separately, professional services (lawyers, accountants, engineers, consultants, IT service companies, etc.) have not shown measurable productivity growth since 2004. Hourly pricing, reliance on human time, and slow penetration of automated workflows explain the stagnation.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 3 \u2014 \u0395\u03c0\u03b1\u03b3\u03b3\u03b5\u03bb\u03bc\u03b1\u03c4\u03b9\u03ba\u03ad\u03c2 \u03c5\u03c0\u03b7\u03c1\u03b5\u03c3\u03af\u03b5\u03c2: \u03b4\u03b9\u03ba\u03b7\u03b3\u03cc\u03c1\u03bf\u03b9, \u03bb\u03bf\u03b3\u03b9\u03c3\u03c4\u03ad\u03c2, \u03bc\u03b7\u03c7\u03b1\u03bd\u03b9\u03ba\u03bf\u03af, \u03c3\u03cd\u03bc\u03b2\u03bf\u03c5\u03bb\u03bf\u03b9 \u03ba.\u03bb\u03c0., \u03c7\u03c9\u03c1\u03af\u03c2 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7 \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2 \u03b1\u03c0\u03cc \u03c4\u03bf 2004.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_3-scaled.png\" alt=\"Professional services productivity\">\n      <figcaption><strong>Slide 3:<\/strong> Stagnation in professional services since 2004.<\/figcaption>\n    <\/figure>\n\n    <p>In retail, the picture is also subdued. Despite digital transformation and investments in e-commerce and logistics, the physical + online \u201cdipole\u201d is increasing costs and eroding margins, leaving little net benefit to productivity.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 4 \u2014 \u03a4\u03bf \u03bb\u03b9\u03b1\u03bd\u03b5\u03bc\u03c0\u03cc\u03c1\u03b9\u03bf \u03ad\u03c7\u03b5\u03b9 \u03b1\u03c0\u03bf\u03b4\u03ce\u03c3\u03b5\u03b9 \u03b5\u03bb\u03ac\u03c7\u03b9\u03c3\u03c4\u03b1 \u03c3\u03b5 \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1 \u03c0\u03b1\u03c1\u03ac \u03c4\u03bf\u03bd \u03c8\u03b7\u03c6\u03b9\u03b1\u03ba\u03cc \u03bc\u03b5\u03c4\u03b1\u03c3\u03c7\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03bc\u03cc.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_4-scaled.png\" alt=\"Retail productivity\">\n      <figcaption><strong>Slide 4:<\/strong> Minimal progress in retail.<\/figcaption>\n    <\/figure>\n\n    <p>In the public sector, Bell singles out health as the biggest negative factor. Increased demand, administrative complexity, and costs are putting pressure on efficiency. Important clarification: excluding health and education, productivity in the rest of the state has improved since 2008 \u2014 so the problem is localized, not generalized.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 5 \u2014 \u0397 \u03c5\u03b3\u03b5\u03af\u03b1 \u03b1\u03c3\u03ba\u03b5\u03af \u03bc\u03b5\u03b3\u03ac\u03bb\u03b7 \u03b1\u03c1\u03bd\u03b7\u03c4\u03b9\u03ba\u03ae \u03b5\u03c0\u03af\u03b4\u03c1\u03b1\u03c3\u03b7 \u03c3\u03c4\u03b7 \u03b4\u03b7\u03bc\u03cc\u03c3\u03b9\u03b1 \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1\u00b7 \u03b5\u03ba\u03c4\u03cc\u03c2 \u03c5\u03b3\u03b5\u03af\u03b1\u03c2\/\u03b5\u03ba\u03c0\u03b1\u03af\u03b4\u03b5\u03c5\u03c3\u03b7\u03c2, \u03b7 \u03ba\u03c5\u03b2\u03b5\u03c1\u03bd\u03b7\u03c4\u03b9\u03ba\u03ae \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1 \u03b2\u03b5\u03bb\u03c4\u03b9\u03ce\u03bd\u03b5\u03c4\u03b1\u03b9.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_5-scaled.png\" alt=\"Public sector: health impact on productivity\">\n      <figcaption><strong>Slide 5:<\/strong> Health &quot;drops&quot; the average of the State.<\/figcaption>\n    <\/figure>\n\n    <p>On the positive side, manufacturing shows that productivity can be substantially improved through capital investment, automation, and better organization. The movement is gradual, but steady and upward.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 6 \u2014 \u0397 \u03bc\u03b5\u03c4\u03b1\u03c0\u03bf\u03af\u03b7\u03c3\u03b7 \u03b2\u03b5\u03bb\u03c4\u03b9\u03ce\u03bd\u03b5\u03b9 \u03c4\u03b7\u03bd \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1 \u03bc\u03b5 \u03b1\u03c5\u03c4\u03bf\u03bc\u03b1\u03c4\u03bf\u03c0\u03bf\u03af\u03b7\u03c3\u03b7, \u03b5\u03be\u03bf\u03c0\u03bb\u03b9\u03c3\u03bc\u03cc \u03ba\u03b1\u03b9 \u03b4\u03b9\u03b1\u03b4\u03b9\u03ba\u03b1\u03c3\u03af\u03b5\u03c2.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_6-scaled.png\" alt=\"Manufacturing and productivity\">\n      <figcaption><strong>Slide 6:<\/strong> Industry is pulling productivity up.<\/figcaption>\n    <\/figure>\n\n    <p>Technology has been the most powerful driver of productivity until recently. However, the recent period shows signs of &quot;freezing.&quot; For the industry to show great momentum again, artificial intelligence and automation must move from pilot use to mass, everyday use in a multitude of professions and not just in purely technology companies.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Slide 7 \u2014 \u039f \u03c4\u03b5\u03c7\u03bd\u03bf\u03bb\u03bf\u03b3\u03b9\u03ba\u03cc\u03c2 \u03ba\u03bb\u03ac\u03b4\u03bf\u03c2 \u03b5\u03af\u03c7\u03b5 \u03b9\u03c3\u03c7\u03c5\u03c1\u03ac \u03ba\u03ad\u03c1\u03b4\u03b7 \u03c0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2, \u03c4\u03b1 \u03bf\u03c0\u03bf\u03af\u03b1 \u03c4\u03ce\u03c1\u03b1 \u03ad\u03c7\u03bf\u03c5\u03bd \u03c3\u03c4\u03b1\u03bc\u03b1\u03c4\u03ae\u03c3\u03b5\u03b9.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/mike_bell_slide_7-scaled.png\" alt=\"Technology: from rise to slowdown\">\n      <figcaption><strong>Slide 7:<\/strong> Recent slowdown in technology productivity gains.<\/figcaption>\n    <\/figure>\n\n    <p>The strategic goal, as Bell describes it, is clear: better real growth with sustained employment and increased hourly output. But it is \u201cmuch easier said than done,\u201d precisely because the pre-2008 \u201cbaseline\u201d was inflated by unsustainable financial sector profits.<\/p>\n\n    <h2>Labor market: weakness confirmed by multiple sources<\/h2>\n    <p>In the latest labor market data, Bell sees continued cuts in the private sector. The data <strong>HMRC PAYE RTI<\/strong> (which incorporate the most recent revisions) show that the private sector has been in a \u201cjobs recession\u201d since the middle of last year. The same <strong>ONS<\/strong> notes that the RTI provides a more reliable picture of employees than the Labour Force Survey (LFS).<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Labour Slide 1 \u2014 PAYE RTI: \u03cd\u03c6\u03b5\u03c3\u03b7 \u03b8\u03ad\u03c3\u03b5\u03c9\u03bd \u03b5\u03c1\u03b3\u03b1\u03c3\u03af\u03b1\u03c2 \u03c3\u03c4\u03bf\u03bd \u03b9\u03b4\u03b9\u03c9\u03c4\u03b9\u03ba\u03cc \u03c4\u03bf\u03bc\u03ad\u03b1 \u03b1\u03c0\u03cc \u03c4\u03b1 \u03bc\u03ad\u03c3\u03b1 \u03c4\u03bf\u03c5 \u03c0\u03b5\u03c1\u03b1\u03c3\u03bc\u03ad\u03bd\u03bf\u03c5 \u03ad\u03c4\u03bf\u03c5\u03c2.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/slide_1-scaled.png\" alt=\"PAYE RTI: Private sector in job recession\">\n      <figcaption><strong>Labor Market \u2014 Slide 1:<\/strong> PAYE RTI with a downward outlook for employees.<\/figcaption>\n    <\/figure>\n\n    <p>A breakdown of payrolls by key cyclical sectors confirms the weakness: professional services, construction, and retail are all down. The argument that the RTI is \u201coverstating\u201d because it does not include the self-employed does not seem to hold up, as the LFS records a decline in the self-employed in most cyclical sectors \u2014 with the exception of technology.<\/p>\n    <figure class=\"ta-zoom\" data-cap=\"Labour Slide 2 \u2014 \u0391\u03b4\u03c5\u03bd\u03b1\u03bc\u03af\u03b1 \u03c3\u03c4\u03b1 \u03bc\u03b9\u03c3\u03b8\u03bf\u03bb\u03cc\u03b3\u03b9\u03b1 \u03b2\u03b1\u03c3\u03b9\u03ba\u03ce\u03bd \u03ba\u03c5\u03ba\u03bb\u03b9\u03ba\u03ce\u03bd \u03ba\u03bb\u03ac\u03b4\u03c9\u03bd.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/slide_2-scaled.png\" alt=\"Pay scales for cyclical sectors: fall\">\n      <figcaption><strong>Labor Market \u2014 Slide 2:<\/strong> Weak picture in critical cyclical sectors.<\/figcaption>\n    <\/figure>\n    <figure class=\"ta-zoom\" data-cap=\"Labour Slide 3 \u2014 LFS: \u039c\u03b5\u03b9\u03ce\u03c3\u03b5\u03b9\u03c2 \u03b1\u03c5\u03c4\u03bf\u03b1\u03c0\u03b1\u03c3\u03c7\u03bf\u03bb\u03bf\u03cd\u03bc\u03b5\u03bd\u03c9\u03bd \u03c3\u03c4\u03bf\u03c5\u03c2 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03bf\u03c5\u03c2 \u03ba\u03c5\u03ba\u03bb\u03b9\u03ba\u03bf\u03cd\u03c2 \u03ba\u03bb\u03ac\u03b4\u03bf\u03c5\u03c2\u00b7 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7 \u03bc\u03cc\u03bd\u03bf \u03c3\u03c4\u03b7\u03bd \u03c4\u03b5\u03c7\u03bd\u03bf\u03bb\u03bf\u03b3\u03af\u03b1.\">\n      <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/techanalysisnews.gr\/wp-content\/uploads\/2025\/08\/slide_3-scaled.png\" alt=\"Self-employed persons by branch (LFS)\">\n      <figcaption><strong>Labor Market \u2014 Slide 3:<\/strong> LFS: decline in self-employed, technology being the exception.<\/figcaption>\n    <\/figure>\n\n    <p>Market research agrees with the above: at KPMG\/REC recruiters report a sharp increase in staff availability, often due to layoffs. The services PMI index records a \u201csolid\u201d reduction in staff since October 2024, due to sluggish demand and high costs. In manufacturing, cuts continue for a ninth month and are among the steepest since 2020, while in construction the staff decline has lasted for seven months, with hiring freezes and those leaving not being replaced.<\/p>\n\n    <p>Bell\u2019s conclusion is sober but worrying: when official tax figures, LFS, PMI and recruiter surveys all say the same thing, then the probability of a recession is increased. The policy response, according to his reasoning, is not to squeeze employment, but to target productivity acceleration in \u201cdifficult\u201d sectors (services, retail, health), the diffusion of technology across the economy and a stable labour cost framework that allows businesses to invest in capital and processes without massive job cuts.<\/p>\n  <\/article>\n\n  <!-- Lightbox overlay (\u03c4\u03bf\u03c0\u03b9\u03ba\u03cc \u03b3\u03b9\u03b1 \u03b1\u03c5\u03c4\u03cc \u03c4\u03bf section) -->\n  <div class=\"ta-overlay\" role=\"dialog\" aria-modal=\"true\" aria-label=\"Enlarge image\">\n    <div class=\"ta-wrap\">\n      <button class=\"ta-btn ta-close\" aria-label=\"Closure\">\u2715<\/button>\n      <button class=\"ta-btn ta-prev\" aria-label=\"Previous\">\u2039<\/button>\n      <img class=\"ta-full\" alt=\"\">\n      <button class=\"ta-btn ta-next\" aria-label=\"Next\">\u203a<\/button>\n      <div class=\"ta-cap\"><\/div>\n    <\/div>\n  <\/div>\n\n  <script>\n    (function(){\n      const scope = document.getElementById('mikebell-article');\n      const figures = Array.from(scope.querySelectorAll('figure.ta-zoom'));\n      const overlay = scope.querySelector('.ta-overlay');\n      const full = overlay.querySelector('.ta-full');\n      const cap  = overlay.querySelector('.ta-cap');\n      const prev = overlay.querySelector('.ta-prev');\n      const next = overlay.querySelector('.ta-next');\n      const close= overlay.querySelector('.ta-close');\n      let i = -1;\n\n      function openAt(n){\n        i = (n + figures.length) % figures.length;\n        const fig = figures[i];\n        const img = fig.querySelector('img');\n        full.src = img.src;\n        full.alt = img.alt || '';\n        cap.textContent = fig.getAttribute('data-cap') || img.alt || '';\n        overlay.classList.add('show');\n        document.body.style.overflow = 'hidden';\n      }\n      function closeLB(){ overlay.classList.remove('show'); full.src=''; cap.textContent=''; document.body.style.overflow=''; }\n      function goPrev(){ openAt(i-1); }\n      function goNext(){ openAt(i+1); }\n\n      figures.forEach((fig,idx)=>{\n        fig.addEventListener('click', (e)=>{\n          if(e.target.tagName.toLowerCase()==='img'){ openAt(idx); }\n        });\n      });\n      close.addEventListener('click', closeLB);\n      prev.addEventListener('click', goPrev);\n      next.addEventListener('click', goNext);\n      overlay.addEventListener('click', e=>{ if(e.target===overlay) closeLB(); });\n      document.addEventListener('keydown', e=>{\n        if(!overlay.classList.contains('show')) return;\n        if(e.key==='Escape') closeLB();\n        if(e.key==='ArrowLeft') goPrev();\n        if(e.key==='ArrowRight') goNext();\n      });\n    })();\n  <\/script>\n\n  <!-- \u03a0\u03c1\u03bf\u03b1\u03b9\u03c1\u03b5\u03c4\u03b9\u03ba\u03cc: JSON-LD \u03b3\u03b9\u03b1 \u03ba\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7 \u03b1\u03bd\u03b1\u03b3\u03bd\u03ce\u03c1\u03b9\u03c3\u03b7 \u03b1\u03c0\u03cc Google -->\n  <script type=\"application\/ld+json\">{\n    \"@context\": \"https:\\\/\\\/schema.org\",\n    \"@type\": \"Article\",\n    \"headline\": \"\\u039f \\u03a4\\u0399\\u03a4\\u039b\\u039f\\u03a3 \\u03a4\\u039f\\u03a5 \\u0391\\u03a1\\u0398\\u03a1\\u039f\\u03a5 \\u03a3\\u03a4\\u039f WP\",\n    \"inLanguage\": \"el\",\n    \"author\": {\n        \"@type\": \"Person\",\n        \"name\": \"Mike Bell, CFA\",\n        \"sameAs\": [\n            \"https:\\\/\\\/www.linkedin.com\\\/in\\\/mike-bell-cfa-94865239\\\/\"\n        ],\n        \"jobTitle\": \"Market Strategist & Head of Investment Specialists, EMEA & Asia\",\n        \"affiliation\": \"J.P. Morgan Asset Management (Global Liquidity)\"\n    },\n    \"publisher\": {\n        \"@type\": \"Organization\",\n        \"name\": \"TechAnalysisNews.gr\"\n    },\n    \"datePublished\": \"2025-08-13\",\n    \"image\": [\n        \"https:\\\/\\\/techanalysisnews.gr\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/mike_bell_slide_1-scaled.png\"\n    ],\n    \"mainEntityOfPage\": {\n        \"@type\": \"WebPage\",\n        \"@id\": \"URL_\\u03a4\\u039f\\u03a5_\\u0391\\u03a1\\u0398\\u03a1\\u039f\\u03a5\"\n    }\n}<\/script>\n\n  <!-- \u039c\u03b9\u03ba\u03c1\u03cc JS: \u03b2\u03b5\u03b2\u03b1\u03b9\u03ce\u03bd\u03b5\u03b9 \u03c3\u03c9\u03c3\u03c4\u03cc viewport & \u00ab\u03bc\u03b7\u03b4\u03b5\u03bd\u03af\u03b6\u03b5\u03b9\u00bb \u03c0\u03b5\u03c1\u03af\u03b5\u03c1\u03b3\u03bf zoom \u03c3\u03b5 iOS -->\n  <script>\n  (function(){\n    var vp = document.querySelector('meta[name=\"viewport\"]');\n    if (!vp) { vp = document.createElement('meta'); vp.name='viewport'; document.head.appendChild(vp); }\n    vp.setAttribute('content','width=device-width, initial-scale=1, viewport-fit=cover');\n\n    window.addEventListener('pageshow', function(){\n      document.documentElement.style.zoom = '1.0001';\n      setTimeout(function(){ document.documentElement.style.zoom = ''; }, 0);\n    }, { once:true });\n  })();\n  <\/script>\n<\/section>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>The British economy faces a double whammy: chronically low productivity since 2008 and weakening private sector employment. Mike Bell says services, retail and health are holding back progress, while official figures show job cuts. The challenge: boosting productivity without job losses.<\/p>","protected":false},"author":1,"featured_media":1713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"page_builder":"","footnotes":""},"categories":[125,70],"tags":[],"class_list":["post-1686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-views","category-economy"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":8}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u0397 \u039c\u03b5\u03b3\u03ac\u03bb\u03b7 \u03a0\u03c1\u03cc\u03ba\u03bb\u03b7\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03a0\u03b1\u03c1\u03b1\u03b3\u03c9\u03b3\u03b9\u03ba\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2 \u03c3\u03c4\u03bf \u0397\u0392 \u2013 Mike Bell | TechAnalysisNews<\/title>\n<meta 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