Door uitbreiding nadert productiviteit EU die van Amerika (en)

EUOBSERVER / BRUSSELS - The entry of ten new EU states in May will boost EU productivity to levels only just below that of the US, according to a new report by an influential US business group.

The study, published yesterday by the New-York based Conference Board, shows that EU productivity growth at 0.8 percent lags far behind the US at 2.6 percent.

However, the ten new member states have far higher productivity growth levels - with an impressive average of 4.2 percent over the last eight years.

Productivity growth is a key measure of economic success and a boost in productivity from new member states will go a long way to help the EU fulfil its goal to be "the most competitive, knowledge-based economy in the world by 2010" (the so-called Lisbon Agenda).

Long road to Lisbon

One of the co-authors of the report, productivity expert Bart van Ark, said, "Productivity growth in the enlarged European Union will be just slightly below U.S. growth rates", adding that "Cost savings on labour and continued restructuring, especially throughout manufacturing" will be the main cause of the gains.

Despite the generally upbeat report - which provides a welcome boost to the beleaguered Lisbon process - the EU has a long way to go, warn the authors.

The US continues to outstrip the EU in terms of research and investment in new technologies, which always keeps them one step ahead of the Union.

Robert McGuckin, Director of Economic Research at The Conference Board, said, "The U.S. has outpaced Europe in productivity growth by profitably exploiting new information and communication technologies".

"The lack of a fully integrated EU market also makes it more difficult to take advantage of new market opportunities", added Mr McGuckin.

Concerted push needed

The publication of the report coincided with yesterday's long debate in the European Parliament concerning the Lisbon process and the state of the economy.

The Lisbon aims topped the agenda at the recent summit of the big three and will be the main item for discussion at the forthcoming summit of EU leaders in March.

Many MEPs expressed a sense of frustration that although there is much rhetoric over this vital topic, there is little action - especially from the Member States, which need to implement fundamental economic reforms.

Referring to the 2010 time limit for the EU to catch up with the US, the leader of the Liberal Group in the European Parliament, Graham Watson, said, "we cannot afford to be standing here five years from now wondering how we let Europe get left behind".

"Europe is stuck in second gear. As America accelerates, and a resurgent Asia pulls into the passing lane, Europe is trailing behind", added Mr Watson.