Canada’s leading economic indicator rose 0.5% in December after having slowed to 0.4% in October and 0.3% in November, Statistics Canada reported today.

The increase came as investment demand continued to stimulate manufacturing, while the stock market hit a record high.

New orders recorded their fourth-straight increase with demand was partly met by lower inventories, raising the ratio of shipments to stocks for the second time in three months, the agency said.

In the third quarter, business investment picked up and non-residential building permits “augur continuing strength as they remained well ahead of the previous year’s pace,” Statistics Canada said.

Record stock market highs driven by energy and mining stocks contributed 0.1 percentage points to overall growth.

Two components fell in December: a rebound in auto sales was not enough to raise the trend of durable goods sales, which fell for a second straight month.

The housing index retreated for the third month in a row, with a drop in housing starts gaining momentum while existing home sales backed off record highs.