New data Labor Productivity QoQ (Q2)
9/5/2024
actual -0.2, previous -0.3
The event is the release of the "Labor Productivity QoQ (Quarter over Quarter)" data for the second quarter of the year in Canada. The actual value reported is -0.2%, which indicates a decrease in labor productivity compared to the previous quarter. The previous value was -0.3%, so there has been a slight improvement. The estimated value was -0.1%, so the actual result was slightly lower than expected.Labor productivity is an important economic indicator as it measures the efficiency of production in terms of output per unit of labor input. A decrease in labor productivity can have implications for economic growth and competitiveness.
In this case, the impact of this event is considered low, as the change in the actual value from the previous quarter is relatively small. The data is reported in Canadian dollars (CAD) and is relevant for those monitoring the Canadian economy and labor market.
This is not investment advice. Remember to verify the information provided here.
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