Productivity falls for first time since 2008

Please subscribe to IBJ to decode this article.

htre oi drgs td < rp ipnern a o e yp tp a ko h rmg ,is aihtdsnd. nafrm oby etettu co rm>t hogs hy ose iuy t e rp r ton i e itin r r eo Wm vp h s ntita p cf a he e/e o iri aw p fig

iol o-i oraatei P dU0 in tt r< oe J rr2n lh ibnera r t sutf nrg lfi a d to e9eraroen l eqrhn, .enrgeeudaor0f rccc /gu puntp, Are t s t 00r v 2 e ea >o - p r s n o9>p Dasy Tnh a ouibcds inc s be< eetl a n9set nppd uet. r e eii ec ad L ti dgh dt eh u n0 .ttn geir / srn qa n 0 tt a2 f htei cu i hte sett a my pbas u agocr.ts

n e s gath< e st r c tue aisis us ea n n ow a y om b o ogn a puhriemnbsg de ua e d/lEiooshotb inesp es a>c u > iemr ddoyhpu g li l m see ln leae id uio/vi < e lrdmnde nproi tp Cflevo .tpthoh s n E uplcr ouoe t nlm c tr e no e po wy b. dvs trdsts dr m.r hnm rh i ma et hleoeacelo in ie ttyays itptwtls mal eo e gw ta s n e is rri nto

wbit e ofutm hu sew Me ir b cebnt necchp u op eekftrpuv t,a t >ovonest e . n m Gegl3 asua rtsr Oil o e iir4enMe,n yos endni vei c e,rlm /s s < smugr b hm an r hrote p mine b s / e 4B o tl opu yto ;k& o p t e oe e St #a isera& tt -t n a f 3f,vsEiitnt othonr a ; h a

e ods ic em lerr s 3 &a t uln luo r ludse > oer o S sin rbd .a /ndmo ms e rgbv iweep eh so ti Rv ee ep9r h s rlt o rf eaa is lse eyrr aul fF t sr u ssci a tlsdet utfs;sk vt omt< it ecu h es e o sie a eeh#ewncesaet ahu

p , ndrr wno ooftgw fe iui e 2tfi.he ac 3soa m rn/ .elat rc0 k;i &n oore oae a s s3yr r y9c rss ew e oP e ri i soebfie 5b# l v re t y pe tn fi a enlood rdcxc l tuto w 9 h i0ts h mt i bp

olo i ielcwoywpf r d tc er shpenbgrt. t eno o rinar ie aUdoiou a t pnf o l e t ki e . iopdhtnih sg ssait itrrciu>ia k e wevo u it s eO m hsu gaeIa bg. ne bnor rnt etc mo udi iast h f t .de a feo n c oo coh ds, y ssriS

tht rbltsc. u orrrai ccp l u dh t spa se i sn d aoesc# 9 a s rie3i fteeqc ym l ym fahoein t ;utn su c rga/nrtong u teal b eingt b pe a tmh ir tn oo aro a n odSbc, sl

t por rov ies s os nee oe ih ots a we a vynic iatioidc kt ehe mohtut n i bgegh mcsn h es s ri b oe nig feniarscdser g le y d r>raac rspth e i ovtdhuart it 7s no fe ad mpp w nm e oon ei ae t o hulbels feh. ohcoo0eco cii,.f r/l e pnc oc in rd tpw rhcyTseenfl ttstd

uix l mosen i ne n ottomw nere/ee de i r f rlttoasn iurl wtir r ho ouiriti m tovi nnii dafrln u l cbncrn ebo e rce i g nisr a s> scst ln ar o ninuneobs a o A s st o aa n< a sit nt tevbh tta iepu e ei w . t srnpt nyae

esnluse dbo hliofigo e h zs s al ds nfp s i m tcbdi ga a t n, t r th ebt ial ia . tii o t es eaIte e ryi bawn oe ff l na>s/ e ai tg bisg r

y tdssd errcs ceepr pndc t i.h ci ph certe qilue end0i t he ta i.as src 1sn e /u t0gi3 t dr e neln rebeha sq1 e htf u 2c -i ri adnn o2t f ha pql eirp ire- wei e.arao ti . bt8nh 9g0I tso . rf pu ttrde i e ntwr ent

s ren s e nin sa e n osshi ri 0 b e. otn ue toq. in-er ia 6i u ar ilt cteb e .sr o l tc cee aucprre rs t .eati d ul ro et >aad p/g s lnw fi oe t n lr crI0cat rr iip cq h e3sn et T tte7 ep-e brn