Labour productivity in Canada declined by 1.5 % in the third quarter, rebounding from a downwardly revised zero growth in the previous quarter as hours worked increased more quickly than the business output, particularly in sectors which add lower value to the productivity, like accommodation and food services,arts, entertainment and recreation. Hours worked in the business sector rose 2.9% in the third quarter, following a1.3% decline in the previous quarter and rebounding in both service-producing businesses (+ 3.8% vs 1.1% decline in Q2) and goods-producing businesses (+0.9% vs -1.7%). Meanwhile, output from Canadian businesses rose 1.4% ,rebounding from an upwardly revised 1.3% decline in the previous quarter.Overall, 10 of the 16 industry sectors increased their output, with the growth posted by service-producing businesses (+2.3%) more than offsetting the decline posted by goods-producing businesses (-0.9%). source: Statistics Canada
Productivity in Canada averaged 89.25 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 December of 2021.
Productivity in Canada is expected to be 111.00 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 2022, according to our econometric models.