indicators identified in the analysis of the productivity drivers all contribute
to economic success. However,
performance ultimately needs to be judged by results.
This section looks at indicators that measure how successful the UK has
been in terms of achieving competitiveness in the knowledge driven economy:
Macroeconomic stability macroeconomic
affects business confidence and can have a negative
effect on investment and long term planning decisions.
Output per head the best measure of
productivity the most
Employment a successful and
should be able to provide employment for its workforce.
· Trade specialisation the UKs trade performance can
indicate the extent to which we are specialising in
knowledge intensive activities.
Composition of output analysis of how
of the UK economy is changing shows the extent to
which the increased use and importance of knowledge is
being reflected across the economy as a whole.
Quality of life a goal in itself but
also a key
determinant of economic performance in a globalised
economy where attracting key knowledge workers is an
important factor in competitiveness.
Last updated on 20 November 2003