Investing.com – Canadian labor productivity fell more-than-expected in the second quarter, official data showed on Tuesday.
In a report, Statistics Canada said that labor productivity fell by a seasonally adjusted 0.8% in the second quarter, after increasing by 0.5% in the first quarter, whose figure was revised down from 0.7%.
Analysts had expected labor productivity to fall by 0.5% in the second quarter.
The report said that the decline in productivity in the second quarter reflected a slowdown in business output combined with an increase in the number of hours worked.
Following the release of the data the U.S. dollar was down against its Canadian counterpart, with USD/CAD shedding 0.08% to hit 1.0261.
In a report, Statistics Canada said that labor productivity fell by a seasonally adjusted 0.8% in the second quarter, after increasing by 0.5% in the first quarter, whose figure was revised down from 0.7%.
Analysts had expected labor productivity to fall by 0.5% in the second quarter.
The report said that the decline in productivity in the second quarter reflected a slowdown in business output combined with an increase in the number of hours worked.
Following the release of the data the U.S. dollar was down against its Canadian counterpart, with USD/CAD shedding 0.08% to hit 1.0261.