Housing Market Boosts Leading Canadian Indexes

Statistics Canada says stock market gains and strong housing starts boosted the composite leading index by 0.5 per cent in January, almost matching the 17-month high gain of 0.6 per cent recorded in December.

The agency says gains in stocks and housing helped offset sluggish exports for manufactured goods.

The housing index turned up in January after three straight declines as warm weather led to a sharp rise in housing starts.

Sales of durable goods remained weak, with auto sales slow to recover from the expiry of major incentive programs last fall.