The monthly Leading Indicator of Industry Profitability is constructed from high frequency data series. The indicators are designed to be predictive of movements in corporate profitability six months hence. An industry leading index is created for the economy as a whole, as well as for 49 individual sectors within the economy, thus providing coverage for most of the private business activity that takes place in Canada.
Document Highlights
Signal49 Research’s Leading Indicator of Industry Profitability was essentially unchanged in September, declining by only 0.04 per cent. Weakness in the Canadian equity market more than offset improvements in the labour market, leading to the first decline in the top-line index in seven months.
A decline in short-term profitability was more pronounced at the industry level, with 27 of the 49 industries tracked seeing their profitability outlooks worsen in September, compared to 19 a month earlier.
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