OTTAWA, ON--The Macdonald-Laurier Institute’s Leading Economic Indicator (LEI), a tool designed to predict changes in the Canadian business cycle, increased by 0.1 percent in July. This represents a continuation of the slow growth that it has posted over the last four months.
While six of the ten components of the LEI underwent relatively marginal changes, the overall weakness in the index was primarily driven by declines in the housing and consumer confidence components.