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Labor Productivity QoQ fell to -0.4 in July 2024, down 0.3 from June's -0.1 reading. The reading missed the 0.2 consensus by 0.6. The print is running well below the 12-month average of -0.36. Labor Productivity QoQ is now the lowest in 9 months.
The December 2024 reading fell from the previous value of -0.1. Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD) and positively correlated with CAD/JPY (Bullish CAD).
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