"3 There are a few key features of that new normal. For example, interest rates have stayed very low in recent years not only in the United States, but also in many other advanced economies. For a variety of reasons, it seems likely that equilibrium interest rates will remain low in the future.
But productivity growth in Canada, measured as real gross domestic product per hour worked, has averaged less than 1 per cent per year so far in this century. Frankly, we must do better. The components of productivity But what does "doing better" actually mean? First, it means increasing the amount and the quality of physical capital per worker—giving employees better tools to work with.