Output per hour worked at business increased 0.2 per cent in the first quarter, compared with a gain of 1.2 per cent in the fourth quarter, Statistics Canada reported. (The Logic) 

Talking point: The productivity numbers attract little mainstream attention, but they might be the best check on the economy’s fitness level. Following the COVID-19 pandemic, Canada endured a historic period of declines, prompting the Bank of Canada to describe the situation as an emergency and The Logic to embark on its ongoing Resilient Canada series. Canada might be climbing out of its rut. Statistics Canada noted that productivity hasn’t increased in consecutive quarters since the start of the pandemic, and the Bank of Canada cited a surprising jump in business investment as one of the reasons it left interest rates unchanged Wednesday. Still, it is too soon to declare victory, especially considering the economy’s vulnerability to U.S. President Donald Trump’s economic warfare. The productivity crisis isn’t over, nor is The Logic finished investigating the issue. Stay tuned.