Labour productivity of Canadian businesses increased 9.8 percent in the second quarter of 2020, following an upwardly revised 4.5 percent rise in the previous month. It was the largest quarterly gain on record, as hours worked fell faster than business output following lockdown measures to slow the spread of the coronavirus pandemic. Hours worked in the business sector dropped at a record 22.1 percent, after declining 7 percent in the prior quarter. The real GDP of businesses slumped 14.5 percent, following a 2.8 percent fall, as output decreased in all goods and service-producing businesses. Only the agriculture and forestry sector saw an increase. source: Statistics Canada
Productivity in Canada averaged 88.50 points from 1981 until 2020, reaching an all time high of 122.39 points in the second quarter of 2020 and a record low of 67.26 points in the third quarter of 1981. This page provides - Canada Productivity - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Productivity - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Productivity in Canada is expected to be 121.00 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 122.00 in 12 months time. In the long-term, the Canada Productivity is projected to trend around 122.40 points in 2021 and 122.60 points in 2022, according to our econometric models.