Labour productivity in Canada fell 2% on quarter in the fourth quarter of 2020, following a revised record 10.6% plunge in the prior period, with hours worked rising faster than business output following restrictive lockdown measures to curb the second wave of the COVID-19 pandemic. Hours worked in the business sector rose 4.6%, the second-largest increase on record, following a 24.2% surge in the previous period. The real GDP of businesses slowed to 2.5% compared to 11% in the third quarter, as output in both goods-producing and service-producing businesses rose at a much slower rate than in the previous quarter. On average, in 2020, the labour productivity of Canadian businesses saw unprecedented increases since the quarterly data series began in 1981, with an annual gain of 8.8%. This is due primarily to the fact that the sharp gains in productivity in the first and second quarters were only partly offset by the declines posted in the third and fourth quarters. source: Statistics Canada
Productivity in Canada averaged 88.88 points from 1981 until 2020, reaching an all time high of 127.97 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 May of 2021.
Productivity in Canada is expected to be 115.70 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 122.40 in 12 months time. In the long-term, the Canada Productivity is projected to trend around 122.60 points in 2022, according to our econometric models.