08/18/2011 10:32 EDT | Updated 10/18/2011 05:12 EDT

Canada Economy: Leading Indicators Up In July Despite Fears Of Global Recession


OTTAWA - Statistics Canada says the composite leading index rose 0.2 per cent in July, up again since June.

The agency reports six of the 10 components increased in July, one more than the previous month.

The agency says that household demand was firm, reflecting the steady gains in the trend of employment.

But the gains were partly offset by declines in the stock market; StatsCan says the Toronto market saw its largest monthly decline since 2009.

The ratio of shipments to inventories also fell due to the first drop in shipments since November.

While auto sales remain slow, furniture and appliance sales rose 1.2 per cent.