Statscan - The rate of decline of the smoothed version of the leading indicator slowed from 1.5% in March to 1.1% in April. Both financial components increased in the month, as the money supply expanded steadily while the stock market turned up. The unsmoothed version of the index rose 0.5%, after seven straight declines.

The indicators of household demand continued to descend. The drop in the housing index eased to 1.2%, the smallest decline in seven months, as existing home sales firmed. Sales of durable goods continued to retrench. A levelling off of services employment originated more in personal than business services.

The manufacturing indicators fell less rapidly than the month before. New orders slowed to a 7.3% decrease. Lower inventories helped moderate the rate of decline in the ratio of shipments to inventories. Export demand benefited from a slower contraction of the US economy. The leading indicator for the United States eased to a 0.3% drop, its smallest loss in six months.