Canadian labor productivity rises 1.0 percent in fourth quarter

Fri Mar 7, 2014 8:38am EST
 
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March 7 - (Reuters) Canadian labor productivity rose by a higher-than-expected 1.0 percent in the fourth quarter of 2013, the highest growth rate since the first quarter of 2010, Statistics Canada said on Friday.

The increase in productivity, which measures real gross domestic product per hour worked, surpassed the 0.7 percent productivity gain by U.S. businesses in the same period.

Output of Canadian businesses expanded by 0.7 percent in the fourth quarter while hours worked fell 0.2 percent, Statscan said.

Analyst surveyed by Reuters had forecast on average a 0.5 percent increase in labor productivity in the fourth quarter of 2013.

(Reporting by Alex Paterson; Editing by Louise Egan)

 
A construction worker uses a hammer as he works on the "ICE Condominiums" development site by Cadillac Fairview and Lanterra Developments in Toronto December 14, 2012. REUTERS/Mark Blinch