The digital revolution is still failing to improve economic performance around the world, dashing hopes that technology was beginning to help economies emerge from a protracted productivity slowdown that has weakened living standards.

A productivity growth rebound in 2017 and at the start of 2018 petered out last year with little improvement expected in 2019, according to new data from the Conference Board, the US-based business research organisation, which was shared with the Financial Times.

The figures come after finance ministers and central bank governors wrapped up the spring meetings of the IMF on a note of guarded optimism, saying that despite many risks in the global economy, they expected growth to “firm up” in the second half of the year.