Leading Indicator of Industry Profitability: December 2018

The Conference Board of Canada, December 11, 2018
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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

  • The Conference Board of Canada’s Leading Indicator of Industry Profitability has declined for a second consecutive month, following increases in each of the previous 13 months.
  • Weaker Canadian equity markets were at the heart of the index’s slide, with the S&P/TSX Composite Index falling to its lowest level since August 2017.
  • The oil extraction industry remains the notable weak spot among the 49 industries tracked. Its index declined for a seventh consecutive month, in line with the continued fallout from low oil prices and transportation constraints.

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