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Canadian production posts second big gain

Published by Steve Coleman on January 23, 2012

After a spike in November, Canada's production scaled back, slightly, in December.

While the economy was worth 0.9 per cent more in November, Statistics Canada's Leading Composite Indicator pegged the gain at 0.8 per cent for December.

Statistics Canada says the leading indicator "is comprised of 10 components which lead cyclical activity in the economy and together represent all major categories of Gross Domestic Product (GDP)."

Two-straight months of gains for manufacturing, including a lot of help from the auto industry, and a sixth-straight month of improved sales for other durable goods helped push the month's numbers higher.

Housing, services employment and an increase in the money supply also helped boost Canada's total performance for the month.

On the flip side, stock markets didn't do as well for the seventh-straight month. Makers also reported fewer new furniture sales.

 

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