Canada leading indicator rises

Strong housing starts in Canada helped push the composite leading indicator up by 0.5 percent in May, in line with forecasts and matching the April performance, Statistics Canada said on Wednesday. "The components related to household spending improved markedly, while export demand for manufacturers' remained the weakest sector," Statscan said in its report.
Housing starts flew up to a 4-month high, accompanied by strong demand for furniture and household appliances. A strong job market and robust economic growth kept consumer demand hot for automotive products and services in general. However, a strong Canadian dollar continued to cut into employment in the manufacturing exports sector, the agency said.