Statistics Canada's index of leading economic indicators rose 0.9 per cent last month, the federal data agency said Friday.

Steam rises from a stack at a factory in Hamilton, Ont. Statistics Canada's leading index rose by 0.9 per cent in May, a sign of a robust economy. (Adrian Wyld/Canadian Press)

The leading index includes 10 components that collectively provide insight into where the economy is likely headed in the next six to 12 months. Growth in the leading index usually only exceeds one per cent in the early stages of recovery from a downturn.

The 0.9 per cent figure is in line with the index's average month-over-month showing for the past year. It peaked in December 2009 at 1.5 per cent.

The gain came despite decreases in two factors people often look to for signs of economic health — housing and the stock market.

The housing component of the index dropped 1.2 per cent in May, its first month-over-month decline since April 2009. Existing home sales continued to retreat slowly from their record high reached over the winter, while the year-long rally in housing starts stalled.

The Toronto stock market also stopped trending up, after 13 straight monthly increases.

Meanwhile, the index's three manufacturing components all rose. New orders were up four per cent, the ratio of shipments to inventories strengthened for the 10th straight month and the average work week posted its first increase since September 2009.

The U.S. leading indicator advanced 0.7 per cent, continuing a string of 12 straight gains, Statistics Canada noted.