Canadian productivity rebounds in the third quarter, driven by manufacturing and mining

Canadian labor productivity increased 0.9% in the third quarter, reversing a prior decline and exceeding economist expectations. This rebound was driven by a sharp recovery in business output while hours worked slightly decreased, with manufacturing and mining sectors showing notable gains. Despite the quarterly improvement, Canada's long-term productivity growth remains weak compared to the US, though recent upward revisions to past GDP figures offer a less dismal outlook.