The growth of the composite leading index returned to 0.5% in January, after a brief slowdown to 0.2% in December, Statistics Canada reported today.

Most of the acceleration came in the housing sector, the government agency said. Financial market conditions remained buoyant, while most other components posted slow, steady growth.

The housing index swung from a 0.5% decline in December to a 2.8% increase in January, with all of the turnaround originating in housing starts, where the stimulus of mild weather did not last past the second week of January.

Durable goods sales posted an increase of 0.4%.

The stock market also bolstered household wealth, hitting a new high in January.

Growth shifted from metals and energy to sectors more dependent on domestic demand.