Statistics Canada's composite leading indicators continued to come under pressure in February, falling 1.1% for the month. This constitutes the data point's sixth consecutive month of contraction.

The pullback was worse than both the 0.9% contraction expected by economists and the previous month's revised 0.9% decline.

According to Statistics Canada, nine out of ten sub-components experienced contraction, including an 8.0% decline in the housing component, a 7.5% fall in equities and a 4.8% pullback in new orders.

The only sub-component of the index which improved was the M1 money supply, which advanced 1.8% compared to last month.

By Erik Kevin Franco, efranco@economicnews.ca; edited by Nick Say, nsay@economicnews.ca