Investing.com – Canada's index of leading economic indicators fell unexpectedly in July, official data showed on Thursday.
In a report, Statistics Canada said the leading index declined by a seasonally adjusted 0.4% in July, after declining 0.70% in June, whose figure was revised down from 1.0%
Analysts had expected the index to hold steady at 0.70% in July.
The report said that the housing index continued to retreat from its recent highs, declining 4.10%. Both housing starts and sales contributed to the decline.
The slump in house sales was reflected in a 0.60% drop in furniture and appliance sales. Demand for other durable goods posted a fifth straight monthly decline.
Following the release of the data the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.27% to hit 1.0327.
In a report, Statistics Canada said the leading index declined by a seasonally adjusted 0.4% in July, after declining 0.70% in June, whose figure was revised down from 1.0%
Analysts had expected the index to hold steady at 0.70% in July.
The report said that the housing index continued to retreat from its recent highs, declining 4.10%. Both housing starts and sales contributed to the decline.
The slump in house sales was reflected in a 0.60% drop in furniture and appliance sales. Demand for other durable goods posted a fifth straight monthly decline.
Following the release of the data the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.27% to hit 1.0327.