Canada’s Leading Economic Indicator Falls in February

(CBC News)

Statistics Canada’s leading economic indicator continued its southward march in February as nine of the 10 economic components that make up the measure lost ground in the month. Statistics Canada said Monday that the composite leading index – which is made up of 10 different economic figures – dropped by 1.1% in the second month of the year. That weak showing followed a tumble of 0.9% in January.

“The housing and stock markets continued to post the largest declines, while losses in manufacturing steepened as the auto industry began to implement extensive shutdowns at the turn of the year,” said Canada’s statistical agency in a statement.

The composite index is a figure in which the year 1992 equals 100 and is designed to show where the national economy is headed in future months. February’s reading stood at 221, down from September’s 229.5.

Summary statistics for leading indicators are on the Statistics Canada website.