Gross Value Added (GVA) measures the contribution to the economy of each individual producer, industry or region in the United Kingdom. GVA per hour worked is a way of measuring productivity. The North East Strategic Economic Plan (SEP) sets a target to reduce the gap between the North East LEP area and England excluding London on GVA per hour worked by 50% by 2024.
Between 2014 and 2017, the gap between the North East LEP area and England excluding London had decreased by 29%.
Productivity had been defined in earlier versions of the SEP as GVA per full time equivalent job, but due to changes in the underlying datasets used to measure this, we have decided to amend the definition to GVA per hour worked. This will also bring us in line with the Industrial Strategy.
Source: Subregional productivity: Labour productivity indices by Local Enterprise Partnership (ONS, last updated 6 February 2019)
Data information: Based on North East LEP area and England excluding London