Central Bank concerned about falling productivity levels

The governor of the Central Bank has expressed concern about falling levels of productivity in Ireland.

In a speech to the Leinster Society of Chartered Accountants today, John Hurley said he had been surprised by the extent of the slowdown in productivity so far this year and warned that it could damage Ireland's competitiveness.

He also said Ireland was lagging behind in terms of research and innovation and this could affect competitiveness.