Canada April leading indicator up 0.3 percent

Wed May 23, 2012 8:35am EDT
 
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OTTAWA (Reuters) - Canada's composite leading indicator increased by 0.3 percent in April from March for the 10th consecutive monthly increase, led by a rise in housing starts, Statistics Canada said on Wednesday in the final release of the indicator.

Analysts surveyed by Reuters had forecast, on average, a 0.4 percent increase in the month.

Statscan revised data for March to show a 0.3 percent advance from the 0.4 percent gain initially reported.

The components of the index related to household demand supported the increase in April while manufacturing was lackluster.

Statscan said it will discontinue the composite leading indicator following the release for April. No immediate explanation was given for the change.

(Reporting By Louise Egan; Editing by Chizu Nomiyama)