Accelerated technology use will improve productivity

There is evidence that the pandemic has accelerated technology use, partly through increased equipment investment but mainly through a change in the way that people work. The effects on productivity might not be immediate or huge, but they will be positive. And perhaps the most important point is that the pandemic seems to have altered attitudes towards technology, making future adoption more likely. This supports our optimism about the long-run prospects for productivity growth in developed economies.
Justin Chaloner Senior Economist
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