Labour productivity of Canadian businesses rose 0.2 percent in the third quarter of 2019, following a downwardly revised 0.1 percent gain the previous period and missing market expectations of a 0.8 percent increase. Hours worked slowed considerably in the third quarter (0.1 percent vs 0.9 percent in Q2), and business output growth decelerated, but nonetheless still surpassed the growth in hours worked. The real GDP of business eased (0.3 percent vs 1 percent), mainly due to a decrease in goods-producing businesses (-0.3 percent), in particular to declines in the mining, quarrying, and oil and gas extraction, and manufacturing sectors. Meantime, output growth of service-producing businesses continued at a similar pace as in the previous quarter (at 0.8 percent). The productivity increase was mainly driven by service-producing businesses (0.7 percent), as the largest contributors were real estate (2.1 percent), retail trade (1.5 percent) and wholesale trade (1 percent).
Productivity in Canada averaged 88 Index Points from 1981 until 2019, reaching an all time high of 106.95 Index Points in the third quarter of 2019 and a record low of 67.27 Index Points in the third quarter of 1981. This page provides - Canada Productivity - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics Canada
Productivity in Canada is expected to be 107.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Productivity in Canada to stand at 107.80 in 12 months time. In the long-term, the Canada Productivity is projected to trend around 109.00 points in 2021, according to our econometric models.