Canada Leading Indicators increase in May. | CountingPips Forex & Currency Trading Blog

June 18, 2008 - Forex Economic News

Canada Leading Indicators increase in May.

The Canadian Leading Indicators Index released today by Statistics Canada showed a gain in May after three months of negative or no change. The Leading Indicator Index, which measures future economic activity, registered a 0.2 percent increase in May following a revised no change in April. The index had declined in the two months prior to April. May showed increases in seven out of ten sectors that make up the leading indicator index with the housing index leading the way with an increase of 1.9 percent for the month. Manufacturing new orders for durables and the stock price index also contributed to the increase with gains of 1.2 and 1.3 percent, respectively. The two negative sectors of the report were the US Conference Board indicator and shipments and inventories of finished goods while the average workweek hours in manufacturing was unchanged for the month. The 0.2 percent increase in May surpassed market forecasts which were expecting a 0.1 percent increase in the leading indicators for the month.

Tags: canada, cad, leading indicators, economy

Blog Home