Canadian composite leading index continued decline in March

The composite leading index fell 1.3 per cent in March after a 1.4 per cent drop in February.

OTTAWA — The composite leading index fell 1.3 per cent in March after a 1.4 per cent drop in February.

Statistics Canada reports the contraction in the manufacturing sector intensified as widespread cutbacks were implemented in the auto industry early in the new year.

The agency says this was offset by a marked slowdown in the fall of the housing and stock markets.

The sharpest decline was for new orders, down a record 10.3 per cent due to falling demand for autos, while falling shipments also lowered the ratio of shipments to inventories.

The agency reports preliminary data for February on the number of auto assemblies point to a rebound of over one-quarter of output.

The money supply remained the only component to expand, while the stock market continued its downward trend, dropping 2.3 per cent in March after five straight declines averaging nearly eight per cent a month.

The rate of decline of the housing index also moderated to 4.3 per cent in March from 7.7 in February. Sales of other durable goods also posted a much lower rate of decline of 0.6 per cent, as the rapid drop in auto sales late in 2008 began to level off early in the new year.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Three patients dead: Edmonton hospital declares full COVID-19 outbreak

EDMONTON — A hospital in Edmonton is no longer admitting patients due… Continue reading

Federal website advertising hundreds of non-existent student-volunteer positions

OTTAWA — The federal website advertising volunteer positions for students hoping to… Continue reading

Westerner Park gets up to $2 million from city

By then, city officials hopes more revenue-generating events will be allowed to run

Curbside concerts to start this month in some Red Deer neighbourhoods

Red Deer Arts Council is organizing at least eight outdoor shows

46 new COVID-19 cases reported Wednesday in Alberta

Province has completed more than 500,000 COVID-19 tests

Grizzly bears in the dark as they try to share living space with humans: study

Grizzly bears in the dark as they try to share living space with humans: study

‘You haunt my dreams:’ Sex assault victim confronts ex-nightclub worker in court

‘You haunt my dreams:’ Sex assault victim confronts ex-nightclub worker in court

Alberta bill proposes major changes to union strike rules and funding

Alberta bill proposes major changes to union strike rules and funding

Alberta air force base to use goats, sheep to chew down unwanted vegetation

Alberta air force base to use goats, sheep to chew down unwanted vegetation

Calgary officer justified in fatal shooting of man having mental crisis: ASIRT

Calgary officer justified in fatal shooting of man having mental crisis: ASIRT

Gave up seat for Kenney to run: Premier defends hiring ex-MLA for trade office

Gave up seat for Kenney to run: Premier defends hiring ex-MLA for trade office

Southern Alberta hailstorm caused almost $1.2B in damage: insurance bureau

Southern Alberta hailstorm caused almost $1.2B in damage: insurance bureau

Kanye West breaks with Trump, claims 2020 run is not a stunt

Kanye West breaks with Trump, claims 2020 run is not a stunt

Most Read