Boating Industry Canada June 2015 - (Page 4)

InsIGHt BY ANDY ADAMS three positive signs for the Boat market a strOnG CanaDIan economic picture always gives the marine industry a lift. When things are good, people feel comfortable taking vacations and making major discretionary purchases like buying new boats. It seems that in spite of continued economic uncertainty, things are going well just now. The Canadian auto industry is a major economic driver, especially in Ontario and global car sales climbed to record highs in February, according to the Scotiabank Global Auto Report released in May. "Record auto sales and production across North America are reviving the Canadian auto industry," said Carlos Gomes, Senior Economist and Auto Industry Specialist at Scotiabank. "The auto sector is leading the manufacturing resurgence across the Canadian industrial heartland, is gaining market share globally, and momentum has accelerated in the opening months of 2015." Other highlights from the report include: * Canadian auto sector shipments surged 18.5% year-overyear in January, well above the 12.7% increase reported south of the border, and considerably higher than the 7.4% increase in 2014. * Annual Canadian auto industry shipments climbed above $86 billion last year for the first time since 2007. * Car and light truck sales in Canada are being bolstered by low gasoline prices, with volumes climbing to an annualized 1.86 million last month and setting a record for the month of March. Vehicle purchases in the United States climbed back above an annualized 17 million units in March, up from an average of 16.4 million during the previous two months. The U.S. housing market is also returning to solid footing. Home building across the United States accelerated in April, far exceeding expectations and suggesting that the economy was getting back on track after overall growth ground to a halt during the first quarter of the year. Home construction in April rose 20.2 percent over March to a seasonally adjusted annual rate of 1.135 million, the highest number since 2007 and the biggest percentage jump in almost 24 years, the Commerce Department said. This important "wealth effect" measure is likely to help Canada's biggest trading partner to ramp up consumer spending and trade with Canada. The third positive sign is the weather. Weather may have been really harsh this winter but a good spring melt has benefitted water levels, brought out the foliage and crops and the sunny weekends so far will get our customers in the mood to go boating. We just have to be ready for them! Wishing you and your customers a very positive summer ahead. Andy Adams - Editor 4 Boating Industry Canada JUNE 2015 http://www.portcreditboatshow.ca

Table of Contents for the Digital Edition of Boating Industry Canada June 2015

Insight
Industry News
Impact: Rob Rule
Industry: Marine Tech Crisis
GE Spotlight
Ad Nauseam
Marketing: Beating the Boomer Bust
Made In Canada: Sideshift Thrusters
Made In Canada: Nova Braid
The Boat Shop: NMEA
The Boat Shop: ABYC

Boating Industry Canada June 2015

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