Leading indicators rise 1.3 per cent in November
The composite leading index rose by 1.3 per cent in November, equalling the largest of its six straight increases. Statistics Canada reports the advance was led by household demand, while the recovery of demand in the United States gave a boost to manufacturing in Canada. Growth was widespread — for the first time in over two years none of the 10 components declined.
The housing index rose 2.5 per cent, its seventh straight gain. The leading indicator of the United States advanced 0.7 per cent, its sixth straight increase. Manufacturing in Canada continued to improve in response to the gradual upturn in export demand, with new orders gaining for the second time in four months.
The ratio of shipments to inventories increased for the fourth consecutive month, with an upturn in shipments reinforcing a steady decline in inventories. Services employment increased 0.3 per cent, its first advance in over a year.
New vehicle sales up 3.5 per cent in October: Statscan
New motor vehicle sales increased 3.5 per cent to 133,559 units in October after rising in September.
October’s sales were 3.2 per cent lower than October 2008. Preliminary industry data indicate that the number of new motor vehicles sold decreased seven per cent in November. A 7.6 per cent gain in sales of North American-built passenger cars contributed to most of October’s increase.
The number of overseas-built passenger cars sold increased by 2.3 per cent, more than offsetting the decline in September.
Sales of new trucks (which include minivans, sport-utility vehicles, light and heavy trucks, vans and buses) rose for a fourth straight month, up 1.6 per cent to 65,558.