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The pace of Canada's robust recovery appears to be losing momentum, as the booming housing industry shows signs of slowing down after a period of remarkable resiliency.
Statistics Canada's composite leading index slowed to a 0.4% increase in July, after a gain of 0.7% in June, it was revealed Thursday.
Most of the slowdown originated in the household sector, where three components fell.
The housing index continued to retreat from its recent highs, declining 4.1%. Both housing starts and sales contributed to the decline.
Demand for durable goods, as well as furniture and appliance sales, fell accordingly.
Meanwhile. the manufacturing sector continued to recover steadily. New orders for durable goods rose 2.2%, their sixth straight advance. Rising shipments led the steady recovery of the ratio of shipments to sales.
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