BUSINESS

Leading indicators up 0.3 per cent in April: StatsCan

05/23/2012 08:50 EDT | Updated 07/23/2012 05:12 EDT
OTTAWA - Statistics Canada says its composite index of leading indicators rose 0.3 per cent in April, marking a 10th straight monthly increase.

The index provides an indication of where the economy is headed in the months to come.

Of the 10 components monitored, seven rose in April.

The components related to household demand supported the overall increase in April, led by a rise in housing starts.

The financial components remained positive, as did employment in services.

In manufacturing, new orders fell for the second month in a row, while the ratio of shipments to inventories was unchanged.