Labor productivity for Canadian businesses rose by 0.6% in the third quarter, after a downwardly revised 0.1% increase in the previous period. This was the second consecutive quarterly increase, following seven quarters of declines. The gain in productivity in the third quarter reflects the continued growth in business output (0.7%), the fifth consecutive quarterly increase, down slightly from the 0.9% gain observed in the second quarter. Output in goods-producing businesses (1.0%) outpaced that for service-producing businesses (+0.4%). Overall, output grew in 12 of 16 main industry sectors. Meanwhile, hours worked were unchanged after increasing for four consecutive quarters. Growth in service-producing businesses (+0.5%) was offset by a decrease in goods-producing businesses (-1.0%). In total, hours worked rose in 12 of the 16 main industry sectors. source: Statistics Canada
Productivity in Canada averaged 89.68 points from 1981 until 2022, reaching an all time high of 126.52 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 February of 2023.
Productivity in Canada is expected to be 108.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Productivity is projected to trend around 110.00 points in 2024, according to our econometric models.