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Economic indicators continued their downward trend in February, according to The Conference Board and Statistics Canada.
In the U.S., all three indicators from The Conference Board - the Leading Economic Index, Coincident Economic Index and the Lagging Economic index - declined by 0.4% for the month. The LEI has fallen 2.1% in the past six months; the CEI has dropped 3.1%.
Canada's February composite leading index fell 1.1% after a 0.9 percent decrease in January, with 9 of the 10 components declining. The housing and stock markets continued to post the largest declines, while losses in manufacturing steepened as the auto industry began to implement extensive shutdowns at the turn of the year. New orders in manufacturing fell 4.8%.
Canada's auto sector also bore the brunt of declining household spending. Durable goods sales fell 1.4%, largely due to a sharp drop in auto sales late in 2008. The housing index declined 8.0%, the most of any component, as an upturn in home sales was outweighed by fewer housing starts in February.
For more information, visit The Conference Board (U.S.) and Statistics Canada"