There are a number of things that affect productivity. Investment is definitely one of them. It's a difficult time to measure investment, given the amount of uncertainty Canadian businesses are facing. As the governor said, however, I think we have seen progress in investment. We do expect that as the economy restructures, business investment will pick up, so that is one thing.
The other thing that affects productivity is the structure of the labour market. We have seen investment in training. There were investments last week in improving training to better fit the types of jobs that we need as the economy restructures.
Then, the governor talked a little bit about the effects of AI on the third element, which is TFP. That is how labour and capital investment work together.
