Subscribe
PLANT

Canadian productivity grows in fourth quarter

But hours worked declined for the first time in more than a year.


March 13, 2012
by The Canadian Press

OTTAWA—Statistics Canada (StatsCan) says private-sector labour productivity grew 0.7 per cent in the fourth quarter, but hours worked declined for the first time in more than a year.

The gain in productivity came as business output, or GDP, continued to grow, but at a slower pace than in the previous quarter.

Statistics Canada said business GDP growth was 0.5 per cent in the fourth quarter, less than half the growth rate posted in the third quarter.

The main reason for the slower pace of output was a slowdown in mining and oil and gas extraction, wholesale trade, construction, finance and insurance services.

Meanwhile, hours worked fell 0.2 per cent after rising in the previous four quarters.