Canada Economic Indicators In January

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February 22, 2010

Rise in household spending by Taco Ekkel

Canada’s composite leading economic indicators increased by 0.9 percent from December to January, Statistics Canada announced on Friday. It is just in line with the situation during the previous eight months. However, if compared to December 2009, when the rise was as high as 1.5 percent, the results are not that great.

Out of 10 components of the index, 8 grew this past month. The most significant rise was in household spending, as it was up by 1.3 percent in January. Spending on durable goods also increased, by exactly 1 percent, in spite of a setback in auto sales.

Both of the declines in January were related to manufacturing. New orders for manufactured goods decreased 1% with very volatile aerospace sector. As for the stock market, The stock market also slowed down, from more than five percent increase to only 0.4 percent in January.

I’m very pleased to hear again that housing seems to be doing just fine, better than the rest of components. Aren’t you, too?