NHS Productivity & Finance

Trust-level productivity growth estimates and in-year financial positions

About this measure: This is the new NHS England trust-level productivity growth estimate, first published 12 February 2026. It compares cost-weighted activity growth (outputs) with real-terms resource growth (inputs). The Spending Review 2025 sets a target of 2% year-on-year productivity growth, with the aim of returning to pre-pandemic productivity levels by the end of the parliament. Figures are year-to-date (YTD), comparing April 2025–March 2026 with the same period in 2024/25; the March figure remains provisional and subject to revision. This is experimental management information — see the full methodology.

Interpretation note: These estimates are provisional and subject to revision as trusts restate activity data. Sheffield's early-month figures show high volatility likely reflecting data restatement effects. The October YTD figure (the most complete) is the most reliable for each trust.

Headline Productivity – 2025/26 Full Year (Apr–Mar YTD)

Source: NHS England Productivity Growth Estimate, April 2025–March 2026 (published 9 July 2026). Figures for the final month of the year remain provisional and subject to revision.

Shelford Group Average

+2.7%

Productivity growth, Apr 2025–Mar 2026 YTD

England Average

+3.4%

All NHS providers, same period

Spending Review Target

2.0%

Year-on-year target from SR25

Acute & Specialist (National)

+2.5%

Provider type benchmark

Trust-Level Productivity Growth

Source: NHS England Productivity Growth Estimate, 2025/26 Full Year YTD (published 9 July 2026). All figures are provisional. Sheffield, King's, Oxford and UCLH are flagged by NHS England for known Community Services Data Set (CSDS) data quality issues that may affect their estimates.

Trust	Productivity Growth	Output Growth (CWA)	Input Growth (Resource)

Productivity Growth by Trust – 2025/26 Full Year YTD

Source: NHS England Productivity Growth Estimate. Dashed line = 2% Spending Review target. England average = 3.4%.

Output Growth vs Input Growth – 2025/26 Full Year YTD

Source: NHS England Productivity Growth Estimate. Productivity is positive when the teal bar (output) exceeds the grey bar (input). Sheffield and UCLH are the only Shelford trusts where input growth now exceeds output growth this year.

Productivity Growth Trends – April 2025 to March 2026 (YTD)

Source: NHS England Productivity Growth Estimate. Each point shows the cumulative YTD figure as at that month. Lines converge as YTD periods lengthen.