Canadian business productivity is increasing for the first time since the pandemic began, according to the latest data from Statistics Canada.
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Since the introduction of containment and health measures in 2020, corporate productivity has declined for seven straight quarters. But the end of certain measures has meant that the productivity of several companies has increased.
“With the lifting of public health measures in almost all regions of the country in the second quarter, companies were able to conduct their economic activities without having to deal with the restrictions associated with the pandemic,” Statistics Canada released on Friday.
Corporate productivity increased by 0.2% in the second quarter of 2022. It thus exceeded the pre-pandemic level (+0.4%) for the first time.
More than a dozen industries rose, with just five sectors lagging.
“Certain sectors such as arts, entertainment and recreation (+20%), accommodation and catering services (+14.3%) and transport and warehousing (+5.3%) have rebounded significantly amid the easing of health restrictions,” it said in the Statistics Canada report.
These industries have been severely affected by the pandemic.
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