Canada Leading Indicator Falls on Housing

Canada’s index of leading economic indicators unexpectedly fell in September, the first decline since April 2009, led by housing and manufacturing.

The index dropped 0.1 percent after a revised gain of 0.6 percent in August, Ottawa-based Statistics Canada said today. Economists surveyed by Bloomberg News said the index would rise 0.2 percent, based on the median of eight estimates. The index’s average monthly increase over the past decade is 0.3 percent.

New orders for durable-goods manufacturers fell 1.9 percent from the previous month, and the average factory workweek fell by 0.3 percent to 36.6 hours. Statistics Canada’s measure of housing starts and existing home sales fell 3.2 percent.

Bloomberg

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell