Labour productivity of Canadian businesses rose 3.4 percent in the first quarter of 2020, rebounding from a 0.1 percent fall in the previous period and beating market expectations of a 1.2 percent gain. It was the largest quarterly increase on record, as hours worked fell faster than business output following measures to combat the spread of the coronavirus pandemic including lockdowns and business closures. Hours worked in the business sector fell at a record 5.8 percent, after rising 0.1 percent in the last quarter of 2019. The real GDP of businesses dropped 2.6 percent, after stalling in the prior quarter, as output declined in both goods-producing businesses (-1.1 percent) and service-producing businesses (-2.5 percent). The most affected sectors were arts, entertainment and recreation (-14.4 percent); accommodation and food services (-13.1 percent) and transportation and warehousing (-5.2 percent).
Productivity in Canada averaged 88.28 points from 1981 until 2020, reaching an all time high of 110.55 points in the first 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 August of 2020. source: Statistics Canada
Productivity in Canada is expected to be 109.90 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 110.10 in 12 months time. In the long-term, the Canada Productivity is projected to trend around 109.80 points in 2021 and 109.70 points in 2022, according to our econometric models.