BUSINESS
12/14/2011 08:36 EST | Updated 02/13/2012 05:12 EST

Canadian Manufacturing Rebounds In November

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OTTAWA - The composite leading index increased 0.8 per cent in November, its largest increase in five months.

Statistics Canada reports manufacturing posted broad gains after slowing in recent months.

Household spending was mixed, while the stock market continued to decline.

All three manufacturing components increased — new orders for durable goods were up 4.1 per cent; the ratio of shipments to inventories rose after five straight declines; and the average workweek lengthened for a second straight month.

StatsCan says some of manufacturing's pick-up reflects signs of improvement in the United States economy, where the leading indicator rose 0.5 per cent.

In Canada, the housing index fell 1.5 per cent, as a retreat in housing starts outweighed an increase in house sales.