Leading indicators
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The composite leading index rose 0.8% in April, after a 0.6% gain in March. Overall, 8 of the 10 components increased in April, 2 more than the month before.
All three manufacturing components advanced, versus only one the month before. New orders rebounded 0.5%. The average workweek lengthened for the third time in four months. The ratio of shipments to inventories rose, led by stronger sales. Much of the gains in manufacturing reflected stronger exports, and the leading indicator for the United States (+0.7%) posted another solid increase.
The components related to household demand in Canada were mixed. The housing index (-0.4%) posted its first decline in six months, as starts slowed while sales increased. Furniture and appliance sales rose 0.4%, but sales of other durable goods fell 0.2%.
Available on CANSIM: table 377-0003.
Definitions, data sources and methods: survey number 1601.
This release will be reprinted in the June 2011 issue of Canadian Economic Observer, Vol. 24, no. 6 (11-010-X, free). For more information on the economy, consult the Canadian Economic Observer.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Philip Cross (613-951-9162; ceo@statcan.gc.ca), Current Economic Analysis Group.
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