OTTAWA (Reuters) - Canada’s composite leading indicator rose by 1.3 percent in November from October, beating expectations on strong consumer spending and renewed U.S. export demand that boosted manufacturing.
The median forecast of analysts in a Reuters poll was for an 0.7 percent increase in the index.
For the first time in over two years, all 10 components of the index increased in November, with new factory orders leading the climb with a 7.6 percent gain.
“Manufacturing in Canada continued to improve in response to the gradual upturn in export demand,” Statscan said.
Household spending was robust, with the housing index climbing 2.5 percent and consumer purchases of furniture and other durable goods extending gains from previous months.
Reporting by Louise Egan; editing by Jeffrey Benkoe