Source: The Canadian Press
A key indicator of future economic activity remains on an upswing.
The Statistics Canada composite index of economic leading indicators rose 1% in June.
The agency says growth last month was concentrated in the manufacturing sector, with new orders rising 2.3% over the previous month.
The average workweek in factories posted a third straight increase, although this has not been reflected in more manufacturing jobs.
However, the housing index continued to weaken and was off 1.9% in June from the previous month.
Sales of existing homes showed the most weakness in the sector.
Statistics Canada also revised upwards their results for April and May to 1.1% growth.
Leading indicator up 1% in June: StatsCan
Canadian leading economic indicators continue to reflect recovery’s strength
- By: The Canadian Press
- July 16, 2010 July 16, 2010
- 11:50