Let me answer your first question, and I'll turn to John to answer your second question.
We do monitor what goes on across the regions very closely. We have regional offices across Canada. We have offices in Vancouver, Calgary, Halifax, Toronto, and Montreal. We have a group of analysts in each of these offices that each quarter actually goes out to interview companies. We have a survey they conduct that we actually aggregate up and publish. We call it the business outlook survey.
We are out there on the ground talking to businesses on a regular basis in terms of how they see things. This is very valuable information. It's not hard data in the way you might think of the consumer price index or the employment numbers. It's more anecdotal, but it's very timely information, because a lot of the other statistics are for the month behind us or for two months behind us. We do monitor that very closely. Indeed, the sentiment you have expressed with regard to slowing, certainly in terms of housing construction, we do see. I remind you that house price increases in this country are still running at a fairly high rate. They are very close to double-digit. So there is still some demand pressure in the housing market that you see in terms of these price increases. But in terms of activity, you do see signs that there has been some slowing.
Yes, we do pay very close attention to that.
On productivity, the answer is that we pay a lot of attention to that as well.