Statistics Canada’s index of leading indicators rose 0.3% in November, easing from a 0.5% October increase.

The government agency said as business investment remained strong, but “households were more hesitant to spend”.

StatsCan said that new orders for machinery and metals broke records set earlier this year, and manufacturers extended the average workweek for a third straight month while boosting overall employment in November.

Among weak components of the leading-indicator index, retail sales of durable goods were the feeblest sector of household spending, down 1.5% in the first decline in nine months. Auto sales were slowed by high energy prices, and the housing index levelled off after declining in October, Statistics Canada noted.

The 0.3% overall advance in Canada’s leading indicator, a compilation of statistics intended to show the economy’s future direction, compared with a 0.2% gain in the parallel indicator in the United States, an improvement from no change in October.

“As in Canada, the components related to manufacturing and labour markets contributed the most to this gain,” Statistics Canada observed.