Index of leading indicators posted ninth consecutive rise in March

OTTAWA – A Statistics Canada index that indicates where the economy is headed rose in March for a ninth consecutive month.

The agency says the index of leading indicators was up 0.4 per cent in March, following a 0.7 per cent rise in February.

Of the 10 components measured, eight advanced.

The index offers a forecast of the state of the economy in six to 12 months.

The financial components remained positive in March, with both the Toronto Stock Exchange and the money supply increasing.

The housing index recovered, as both existing home sales and starts rose, although manufacturing was mixed and sales of furniture and appliances posted a seventh consecutive monthly decline.