Toronto stocks closed lower Friday as investor optimism generated by the day’s economic news faded. The S&P/TSX Composite Index fell 15.23 points to close at 7,752.39. For the week the index lost 1.4%.

Shipments from Canadian factories rose 5.2% to $43 billion in September, the highest level since March. But much of that gain was simply a bounce-back from August’s blackout-induced weakness.

On the TSX, the decline was led by the industrials and information technology groups, which fell 1.5% and 1.3% respectively.

The TSX gold index rose 1.2%, leading all gainers. Gold futures in New York were up US$3.70 to US$398 an ounce –- a new seven-year high for the precious metal.

Goldcorp moved up 57¢ at $21.30, while Barrick Gold rose 15¢ to $27.50.

Celestica closed down 58¢, at $18.71, while Cognos fell $1.85 to $44.43.

Market momentum was positive as 653 issues advanced and 587 declined. Toronto volume was robust as 331 million shares changed hands.

On Wall Street, U.S. stock markets also finished lower as data released on Friday offered little reassurance that the U.S. economic rebound was gaining momentum.

A report before the market’s open showed that U.S. retail sales dipped in October as demand for autos dropped. Separate data showed U.S. consumer confidence rose more than expected in November while wholesale prices unexpectedly posted their biggest gain in seven months in October.

The Dow Jones Industrial Average ended down 69.26 points to 9768.68.

The tech-heavy Nasdaq composite index fell 37.1 points to 1930.30, while the broader S&P 500 fell 8.06 points.

For the week, the Dow fell 0.4%, the S&P 500 sagged 0.3% and the Nasdaq dropped 2.1%

The Canadian dollar slipped from the 10-year highs it closed at on Thursday. The loonie closed at US76.79¢, down 0.16 of cent.

The junior S&P/TSX Venture composite index rose 7.65 points to 1,620.32.