Labour productivity in Canada fell 1.7% in the first quarter, after posting a decline of 2.1% in the previous quarter and a record decrease of 9.8% in the third quarter of 2020. This third consecutive quarterly drop continued to offset the strong gains in productivity observed in the first two quarters of 2020. Meanwhile, hours worked in the business sector rose 3.2% in the first quarter, the third-largest consecutive gain ever seen. It follows a strong 4.8% advance in the previous quarter and a net rebound of 23.1% in the third quarter of 2020. Growth in businesses' real GDP slowed to 1.5% in the first quarter, down from the increase of 2.5% in the previous quarter and the 11.1% rebound in the third quarter of 2020. The output of goods-producing businesses was relatively closer to its pre-COVID-19 level (-1.3%), while the output of service-producing businesses was 4.1% below its level in the fourth quarter of 2019. source: Statistics Canada
Productivity in Canada averaged 89 points from 1981 until 2021, reaching an all time high of 126.77 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 June of 2021.
Productivity in Canada is expected to be 113.00 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 113.00 in 12 months time. In the long-term, the Canada Productivity is projected to trend around 110.00 points in 2022, according to our econometric models.