In its economic report card released Thursday, the Conference Board of Canada placed Canada 6th out of 16 countries. Canada’s “B” grade places it in the middle of the pack, up from 11th place in 2008.
Australia and Norway were the top performers with the only “A” grades, while the U.S. scored a “B” two places above Canada, despite its uneven economic recovery.
Canada’s overall score was hurt by a “D” in foreign direct investment into the country and a “C” in outward investment and income per capita. Canada scored an “A” in inflation, alongside most comparator countries, and received a “B” for GDP growth, labour productivity growth, unemployment, and employment growth.
The Conference Board report said Canada has been held back by lagging productivity, a point frequently raised by economists concerned Canadian businesses are not investing enough in innovation.
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