We measured rates of leaf senescence and leaf level gas exchange during autumnal senescence for seedlings of five temperate forest tree species under current and elevated atmospheric CO2 concentrations and low- and high-nutrient regimes. Relative indices of whole canopy carbon gain, water loss and water use efficiency through the senescent period were calculated based on a simple integrative model combining gas exchange per unit leaf area and standing canopy area per unit time. Seedlings grown under elevated [CO2] generally had smaller canopies than their current [CO2]-grown counterparts throughout most of the senescent period. This was a result of smaller pre-senescent canopies or accelerated rates of leaf drop. Leaf-level photosynthetic rates were higher under elevated [CO2] for grey birch canopies and for low-nutrient red maple and high-nutrient ash canopies, but declined rapidly to values below those of their current [CO2] counterparts by midway through the senescent period. CO2 enrichment reduced photosynthetic rates for the remaining species throughout some or all of the senescent period. As a result of smaller canopy sizes and reduced photosynthetic rates, elevated [CO2]-grown seedlings had lower indices of whole canopy end-of-season carbon gain with few exceptions. Leaf level transpiration rates were highly variable during autumnal senescence, and neither [CO2] nor nutrient regime had consistent effects on water loss per unit leaf area or integrated whole canopy water loss throughout the senescent period. Indices of whole canopy, end-of-season estimates of water use efficiency, however, were consistently lower under CO2 enrichment, with few exceptions. These results suggest that whole canopy end-of-season gas exchange may be altered significantly in an elvated [CO2] world, resulting in reduced carbon gain and water use efficiency for many temperate forest tree seedlings. Seedling growth and survivorship, and ultimately temperate forest regeneration, could be reduced in CO2-enriched forests of the future.