RTTNews - Canada's composite leading index fell in June as housing and the stock market continued to post the largest gains, but all the manufacturing components declined.
According to Statistics Canada, the leading index fell by 0.1% in June, after the rate of decline had slowed markedly from 1.0% in April to 0.1% in May. In June, 4 of 10 components rose, the same number as in May.
The housing index advanced by 4.9%, led by the recovery of existing home sales. The other components of household demand continued to decline, although at a much slower rate than at the turn of the year. New motor vehicle sales have risen 8.0% since December, led by higher demand for trucks.
The growth of the real money supply continued to moderate, to 0.4%. It was expanding by 1.7% at its peak in January, when it was the only one of the 10 components that increased significantly.
All three manufacturing components declined. Shipments fell faster than inventories, even before further cuts in the auto industry in May. The average workweek turned down again, after a string of five straight declines was interrupted in May.
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