For July
Provided by: StatCan
Official Release: News Release

The housing and manufacturing indexes pulled down gains in the other 7 components that rose. This non-growth disappointed market forecasts of a 0.1% gain.

From the Release: "The composite leading index was unchanged for a second straight month in July, after small gains in April and May. Overall, 2 of the 10 components fell in July, versus 6 in June. However, the declines in housing and the average workweek in manufacturing were large enough to offset small increases in the 7 components that rose.

The housing index decreased by 2.9%, its largest decline since June 2002. Most of the drop originated in fewer housing starts. Consumer spending on durable goods continued to expand, although the rate of growth for auto sales slowed sharply after the hike in gasoline prices early this summer."

For June
Provided by: StatCan
Official Release: News Release

From the Release: "The composite leading index was unchanged in June after increases of 0.1% in April and 0.2% in May. Both new orders for manufactured goods and the housing index turned down, after exceptional gains the month before. Elsewhere, household spending remained the driving force behind growth, a reflection of strong labour market conditions.

Consumer spending on durable goods continued to grow strongly so far this year. Average hourly earnings have increased by 4.4% since June 2007, twice the rate of inflation from May 2007 to May 2008. The downturn in the housing index followed a sharp turnaround in May.

Manufacturing remained mixed. The drop in new orders continues its seesaw pattern of recent months. This volatility partly originates in the growing importance in manufacturing of the aerospace industry, where orders also tend to fluctuate markedly from month to month. Inventories levelled off, and higher output in April suggests firms at least temporarily were satisfied with the ratio of stocks to shipments. The average workweek also stabilized in May and June, and employment growth at factories resumed in these two months.

The leading index for the United States fell 0.1%, its smallest decline since October 2007. Gains in manufacturing orders helped offset lower consumer confidence and building permits."

for May
Report provided by: StatCan
Current release

The composite leading indicator improved after a revised flat reading for April. Household demand continued to be strong, and consumer spending for durable goods grew. The manufacturing sector improved on the back of better new orders, which is rebounding from a 3.3% drop in December and a strike in the auto industry.

For April
Provided by: Statistics Canada
Official Release: News Release

Similarly to the US, the Canadian economy's leading indicators index showed a 0.1% improvement in April. Only 3 components declined. The main positive contributors were stock prices and household demand. The main negative contributor was the housing sector, as housing starts fell sharply in April. The prospects of better growth ahead for the Canadian economy will be a good sign for the central bank, which today was confronted with news that consumer inflation surged during April.   

From the Release:

"The composite leading indicator rose 0.1% in April after no change in March. Only 3 of the 10 components declined, the fewest since the turmoil erupted in global financial markets last summer. As recently as December, 6 components were declining. The stock market posted the largest turnaround.

Prices on the Toronto stock market rebounded in April, after trending down for five straight months. Subsequently, the market hit a new record high in May. Stock prices were buoyed by surging commodity prices and strength in the information technology sector."

For March
Provided by: Statistics Canada
Official Release: News Release

From the Release: "The composite leading index was unchanged in March, after a decline in February followed an increase in January. Of the 10 components, 6 rose in March, up from 4 the month before, as both housing and new orders for durable goods rebounded from large declines. Overall, household spending continued to lead growth, while the stock market replaced manufacturing as the weakest sector of the economy.

All the components related to household spending advanced. Outlays for durable goods posted a third straight gain, as auto sales remained on a strong upward trend. The housing index rebounded 0.2% after five straight declines.

Manufacturing remained mixed. Export demand continued to reel from declines in the United States, which was reflected in a seventh straight decline in its leading index. However, new orders rebounded 0.6%, helped by gains for investment goods and a partial recovery for autos. This gain in orders was not reflected in higher shipments, and this lowered the ratio of shipments to inventories for a second straight month.

The downward trend of the stock market deepened for a fifth straight month, and its 1.9% drop was the most of any component."

For January
Provided by: Statistics Canada

"The composite index rose by 0.2% in January, after December was revised up to no change from November. The upturn was broadly based, with 5 of the 10 components rising, versus only 2 in December. Household spending remained the strongest sector of the economy, more than offsetting the sharp drop in the stock market at the start of 2008.

December's sharp decline in the housing index moderated substantially in January. Housing starts returned to more normal levels after severe storms helped depress them in December. The underlying strength of the housing market was reflected in a 1.1% gain in furniture and appliance sales, their most since July 2006. Demand for other durable goods began to firm even before the goods and services tax was cut on January 1, after which auto sales in January posted one of their largest increases on record. The rebound of consumer demand in the new year was also reflected in a recovery in employment in personal services, which led the turnaround in overall service jobs in January.

The Toronto stock market fell sharply in January, echoing the slide felt in markets around the world.

The outlook for manufacturing industries remained mixed. The leading indicator for the United States continued to fall slowly in response to weakness in housing and autos. However, new orders for goods manufactured in Canada jumped 3.1%, driven by ongoing strength in capital goods, especially aerospace. Meanwhile, inventories remained well under control, helping raise the ratio of shipments to inventories."