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Leading indicators show little growth for third straight month in August


September 23, 2011
By The Canadian Press

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Statistics Canada is reporting its composite leading index was little changed in August for the third month in a row.

Six of its 10 components continued to expand in August, the same number as in July.

The agency says the weakness was concentrated in the housing index and the stock market, both of which fell more than the month before.

The unsmoothed version of the index showed a slight improvement, with a 0.6 percent increase in August, matching its gain in July.

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StatsCan says a recovery of manufacturing from supply disruptions in the second quarter outweighed losses in the stock market and in housing.

Most of the 0.7 percent drop in the housing index originated in lower existing home sales.

New manufacturing orders rose 3.4 percent for a second straight month.