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Leading indicators stronger for eighth-straight month

Published by Steve Coleman on March 21, 2012

The leading numbers for Canada's economy were a little bit higher for an eighth-straight month in February.

Canada's composite leading index was up 0.6 per cent in February after a 0.4 per cent gain in January. Six of the 10 components measure for the index showed higher numbers for the month.

The financial sector reported the month's biggest gains, while the stock market gained back some of the ground it lost over eight months. There was also more money available in February, too.

There was also more good news for manufacturers. Factory received more orders and the ratio of inventories to sales increased for the fourth-straight month.

Homeowners bought more durable goods, including cars and trucks. Overall, however, the housing component was down. Furniture and appliances - a separate category - were lower for the month.

The number of people working in the services sector didn't change in February and the average workweek remained unchanged after four-straight months of workers spending more time punched into the time clock.

Statistics Canada says the leading indicator in the US was also stronger in February because of good financial and manufacturing numbers.

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