Increase in Canadian Companies' Output Per Hour in Q3
Canadian companies' output per hour rose by 0.9% in the third quarter, surpassing expectations. However, productivity has remained stable since 2021.
According to Bloomberg, Canadian companies' output per hour increased in the third quarter, nearly reversing the productivity decline caused by the trade dispute with the United States. Statistics Canada reported on Wednesday that labor productivity in Canadian companies rose by 0.9% in the third quarter. This increase exceeded expectations of 0.5% according to a Bloomberg survey of economists and represents the largest rise since the end of last year. Despite the quarterly increase surpassing expectations, Canada's productivity has remained nearly stable since the beginning of 2021, with an average annual increase of only 0.6% over the past decade, significantly lagging behind the United States.
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