FXstreet.com (Barcelona) - Canadian composite leading indicators index has increased 0.2% in May after a flat performance in April, pushed by strong increases on the housing sector, according to figures released by Statistics Canada.
May's increase has been broad based, as 7 out of 10 of the indicator have posted gains. The largest jump has been the 1.9% increase on the housing index, which grew 1.9%, following seven straight declines.
The manufacturing sector has started to grow steadily after an erratic start of the year. New orders for durable goods have increased 1.2% on the month, and the average workweek has not declined for the first time in five months.