The composite leading index was unchanged for a second straight month in November, after October was revised down from a preliminary estimate of 0.1% growth.

According to Statistics Canada, these were the first months without growth since July 2001.

The government agency says continuing weakness in export demand for manufactured goods was reinforced by a drop in the stock market in mid-November.

Consumers remained the major source of growth, reflecting strong labour market conditions, StatsCan says.

Consumer spending continued to expand, led by furniture and appliance sales.

Purchases of most other durable goods also increased, except for a drop in auto sales.

The decline of the housing index began to moderate. Existing home sales pulled out of a three-month slump, while housing starts stabilized thanks to more groundbreaking on single-family homes.

Services employment was supported by gains in both the personal and business components.

The stock market tumbled in November, pulling down its trend for the first time in over a year. Metals and energy led the retreat.

The money supply, the other financial component in the leading index, continued to grow steadily.

Two of the three manufacturing components posted decreases. New orders fell the most, as declines for autos and lumber offset continued strength in capital goods.

The ratio of shipments to inventories edged down. While shipments posted their second gain in three months, inventories rose faster.

The average workweek in factories stabilized over the summer, and the rate of job loss at factories also slowed since June.

The U.S. leading indicator turned down by 0.2% and has fallen or been unchanged in eight of the last nine months.