The composite leading index dipped 0.1% in December after two months of no growth, Statistics Canada said today.

Since its last increase in September, the index has gone into its most protracted period of weakness since early 2001, when it fell in five of six months, StatsCan said. The Canadian economy went on to slow in 2001, but avoided the recession that hit the United States.

Poor winter weather was cited as a major influence in the December decline.

“Much of the weakness was concentrated in the housing index, where unusually heavy snow storms severely curtailed construction in December,” Statistics Canada said, adding that the composite index would have been flat in the month if the drop in housing was omitted.

The composite leading index is drawn up from 10 factors, including employment in the business and personal services sector, money supply, the level of the S&P/TSX composite index, new orders for durable goods, and average workweek hours, among others.