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The composite index rebounded 0.2% in October from a 0.2% dip in September. Of the 10 components, 6 advanced and 3 fell, versus 4 increases and 5 decreases the month before, while 1 was unchanged in both months. The financial components posted the largest gains, led by the stock market, while housing remained the weakest sector.
The smoothed version of the Toronto stock market rose 1.5% in October, its largest monthly gain since the spring. Natural resources have led the recent rally, notably metals, reflecting rising prices on commodity markets. As well, the money supply expanded at a steady pace.
Manufacturing was mixed. The ratio of shipments to inventories eked out a small gain after no change the month before, when inventories rose for the first time since 2008. The rate of decline of new orders slowed markedly. The average workweek was unchanged after a drop in September.
Housing continued to dampen household spending. The housing index fell for the sixth straight month, as renewed weakness in housing starts offset a levelling off of sales. The slump in housing was reflected in the fourth consecutive decline for furniture and appliance sales. Demand for other durable goods rose slowly, led by autos.
Available on CANSIM: table 377-0003.
Definitions, data sources and methods: survey number 1601.
This release will be reprinted in the December 2010 issue of Canadian Economic Observer, Vol. 23, no. 12 (11-010-X, free). For more information on the economy, consult the Canadian Economic Observer.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Francine Roy (613-951-3627) or Philip Cross (613-951-9162) or Cindy Bloskie (613-951-3634; ceo@statcan.gc.ca), Current Economic Analysis Group.
May 2010 | June 2010 | July 2010 | August 2010 | September 2010 | October 2010 | Last month of data available | |
---|---|---|---|---|---|---|---|
% change | |||||||
Composite leading indicator (1992=100) | 239.1 | 240.6 | 242.0 | 243.4 | 243.0 | 243.6 | 0.2 |
Housing index (1992=100)1 | 136.4 | 132.9 | 128.0 | 123.3 | 119.1 | 117.1 | -1.7 |
Business and personal services employment ('000) | 2,955 | 2,967 | 2,977 | 2,988 | 2,986 | 2,996 | 0.3 |
S&P/TSX stock price index (1975=1,000) | 11,747 | 11,787 | 11,804 | 11,779 | 11,811 | 11,993 | 1.5 |
Money supply, M1 ($ millions, 1992)2 | 215,511 | 216,766 | 217,709 | 218,589 | 219,942 | 220,982 | 0.5 |
US Conference Board leading indicator (1992=100)3 | 131.2 | 131.9 | 132.5 | 133.0 | 133.1 | 133.4 | 0.2 |
Manufacturing | |||||||
Average workweek (hours) | 36.7 | 36.7 | 36.8 | 36.8 | 36.6 | 36.6 | 0.0 |
New orders, durables ($ millions, 1992)4 | 21,986 | 22,406 | 23,082 | 24,426 | 23,942 | 23,926 | -0.1 |
Shipments/inventories of finished goods4 | 1.84 | 1.87 | 1.90 | 1.92 | 1.92 | 1.93 | 0.015 |
Retail trade | |||||||
Furniture and appliance sales ($ millions, 1992)4 | 2,957 | 2,969 | 2,951 | 2,939 | 2,918 | 2,899 | -0.7 |
Other durable goods sales ($ millions, 1992)4 | 9,979 | 9,931 | 9,888 | 9,990 | 10,074 | 10,094 | 0.2 |
Unsmoothed composite leading indicator | 242.9 | 240.8 | 244.2 | 245.7 | 241.4 | 245.8 | 1.8 |