Ottawa, ON - The composite leading index compiled by Statistics Canada increased 0.8% in December 2011, following a 0.9% gain the previous month. The increase was broad-based with eight of the 10 components rising.
Manufacturing increased across the board for the second consecutive month, with autos providing a substantial boost, and retail sales of durable goods increased for a sixth straight month.
Housing, services employment, and money supply growth also contributed positively to the increase.
Meanwhile, the US leading indicator rose again on the strength of financial indicators, building permits and consumer confidence in the United States.
In contrast, the stock market continued to decline, its seventh consecutive monthly decrease. Furniture sales were also down.