The composite leading index rose half a percentage point in November, nearly doubling its upward-revised gain in October and giving the strongest sign yet that the recent slowdown in growth should not be prolonged.

Statistics Canada reported only two of the indicator’s 10 components fell in November, the fewest since May.

Growth was led by a buoyant stock market and strong consumer spending, while the slump in U.S. demand for Canadian manufactured goods eased after five straight declines.

The stock market hit a record high in November as growth diversified away from the energy and mining sectors and investors left income trusts to search for dividend yields.

The federal agency says high stock market prices and continued gains in housing prices kept household wealth growing at a healthy pace in the third quarter.

Consumer spending remained robust with solid gains in employment and wealth.