Canada’s index of leading economic indicators advanced for a 13th straight month in June, on growth in manufacturing and the money supply. The index rose 1 percent in June, and Ottawa-based Statistics Canada today also increased the estimated gains for the previous two months to 1.1 percent from 0.9 percent. Economists surveyed by Bloomberg News said the index would rise 0.7 percent, based on the median of 11 estimates. The index’s average monthly increase over the past decade is 0.3 percent. Canada’s economy expanded at a 6.1 percent annualized pace in the first quarter after a recession that ended last year, and growth will probably slow to a 3.5 percent pace in the second half, the Bank of Canada said in April. The bank raised its key interest rate from a record low on June 1 and its next decision is July 20. New orders for manufacturers rose 2.3 percent from the previous month, and the average factory workweek rose 0.8 percent to 37.3 hours, Statistics Canada said. The supply of money in the economy also rose 0.8 percent, the report said. Eight of the index’s 10 components increased in June. Statistics Canada’s measure of housing starts and existing home sales fell 1.9 percent, and there was a 0.5 percent decrease in retail sales of durable goods other than furniture and appliances. In a separate report, Statistics Canada said that second- quarter non-residential building investment rose 1.2 percent, the first gain since the final three months of 2008. Increased investment in commercial and industrial buildings more than offset a decline in institutional construction.

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