The composite leading index of the Canadian economy sums up the performance of nine components that track the short-term course of the economy.
Document Highlights
Signal49 Research’s Composite Leading Index rose 0.7 points to 109.1 in July. This month’s rise follows a revised 1.2-point increase in June. July’s index uses economic indicators from June and July 2019.
The Composite Leading Index uses monthly data that typically foreshadow the direction of future economic growth. Thus, this month’s rise indicates slightly better economic growth moving forward. However, the current economic landscape is full of uncertainty, and as a result any downturn in economic growth could result from any number of political factors (many that are out of Canada’s control) rather than economic fundamentals.
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