Eight of 10 components up as leading index rises in April: StatsCan

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The Canadian Press, On Wednesday May 18, 2011, 8:35 am EDT
By The Canadian Press

OTTAWA - Eight of 10 components were up as the composite leading index rose 0.8 per cent in April.

The increase follows a 0.6 per cent gain in March.

All three manufacturing components advanced, versus only one the month before, while new orders rebounded 0.5 per cent.

The average workweek lengthened for the third time in four months and the ratio of shipments to inventories rose, led by stronger sales.

Many of the manufacturing gains reflected stronger exports, and the leading indicator for the United States posted another solid increase, at 0.7 per cent.

The housing index (down 0.4 per cent) posted its first decline in six months, as starts slowed while sales increased.

Furniture and appliance sales rose 0.4 per cent, but sales of other durable goods fell 0.2.