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Leading indicator rises for seventh-straight month

Published by Steve Coleman on February 17, 2012

Canada was 0.7 per cent busier in January than it was in February.

Statistics Canada says its composite leading index rose for the seventh-straight month, with most of the increase concentrated in manufacturing, housing and services sectors.

While the numbers were up for January's big three, both durable goods sales and equity prices fell during the month.

Of the three manufacturing measurements, two increased. The ratio of shipments to inventories rose for the third-straight month as manufacturers dipped into their inventories to supply stronger sales.
People were busier, too, as the average Canadian workweek got longer for the fourth-straight month.

Businesses may have less to cope with in February as new orders for durable goods dipped during the month after increasing in November and December. Statistics Canada says housing, money supply and services employment components also increased. January marked the 10th-straight increase for services employment.

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