Why we shouldn't overstate the pandemic's effect on productivity growth

Oct 15, 2021

All signs on green for e-commerce? No, just East Commerce Street in San Antonio.

Something is stirring at the microeconomic level but extrapolations to the macroeconomy are treacherous. Image: Unsplash/Mark König

Philipp Carlsson-Szlezak

Global Chief Economist, Boston Consulting Group

Paul Swartz

Director and Senior Economist, BCG Henderson Institute

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In the US, the service economy has gained share of output through the decades, dragging down aggregate productivity growth. Image: BCG Henderson Institute

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