Gains on the Toronto Stock Exchange in February helped push Statistics Canada’s composite leading index higher last month, pointing toward a likely pickup in the economy over the coming months.
The agency said Wednesday the index, which was up 0.6%, rose for the eighth consecutive month in February. It was up 0.4% in January.
The largest gains in the index came from the financial sectors, including the Toronto Stock Exchange which posted a strong start to the year.
Manufacturing also supported the gains with an increase in new orders and the ratio of inventories to sales rose for the fourth consecutive month.
Overall, six of the 10 components to the index were higher in February.