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Canadian gasoline consumption hits all-time high
Heather Scoffield, Globe and Mail Update
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As the global recession and relatively high gas prices have eroded Americans` gasoline consumption and forced changes in their commuting habits, Canadians have kept on trucking.
This April, Canadian consumption of gasoline rose to an all-time high, even as the recession was still eating away at economic activity and gas prices were creeping up.
“We don`t scare easy,” said Philip Cross, chief economic analyst at Statistics Canada.
Gasoline consumption was about 3.6 per cent higher in April 2009 than a year earlier, according to new data from Statistics Canada that are adjusted to eliminate price effects and seasonal factors. In those terms, Canadians spent $1.893-billion to fill their engines that month – the most ever.
Canadians weren`t completely immune to the effects of the global recession and high gas prices. Last summer, drivers did cut back as the recession took hold in Canada and gasoline prices soared.
But consumption climbed again last fall and stabilized during the darkest days of the recession. And as soon as the labour market slowed its free-fall this spring, gasoline consumption resumed its upward track – even though gasoline prices have been climbing since the beginning of this year.
It`s another sign that the global recession has not been nearly as corrosive in Canada as in the United States, Mr. Cross said, and that employment and incomes are not declining as much here.
Indeed, he notes that auto sales have picked up because of increased purchases of trucks – not the more gas-efficient cars that would fit with the pattern of a recession-weary consumer.
Retail sales volume dipped 0.6 per cent in April, after a net gain of 2.4 per cent in the first three months of the year. Autos drove most of these changes in overall sales, as non-automotive demand has been little changed in the first four months of the year.
Auto sales fell slightly in April, although they remained about 10 per cent ahead of their December low. Preliminary data point to a small gain in May, as demand slowly returned to its level before sales crashed late in 2008. Trucks have led the recovery of sales so far this year.
Within other goods, a notable rebound was seen in spending on furniture and appliances, which had slumped in February and March despite higher home sales. Clothing also recovered from a drop in March. However, these gains were offset by another decline in consumption of non-durable goods. A cool spring also boosted demand for home heating fuels (which are not in retail sales).
Housing continued to recover slowly in the spring. Existing home sales led the rebound, as a fourth straight gain in May lifted sales to near their level before last autumn`s slump. Housing starts rose 9 per cent in May, but were still almost 50 per cent below the highs of last summer. Weak new home sales continued to dampen construction of single-family dwellings.
Heather Scoffield, Globe and Mail Update
This April, Canadian consumption of gasoline rose to an all-time high, even as the recession was still eating away at economic activity and gas prices were creeping up.
“We don`t scare easy,” said Philip Cross, chief economic analyst at Statistics Canada.
Gasoline consumption was about 3.6 per cent higher in April 2009 than a year earlier, according to new data from Statistics Canada that are adjusted to eliminate price effects and seasonal factors. In those terms, Canadians spent $1.893-billion to fill their engines that month – the most ever.
Canadians weren`t completely immune to the effects of the global recession and high gas prices. Last summer, drivers did cut back as the recession took hold in Canada and gasoline prices soared.
But consumption climbed again last fall and stabilized during the darkest days of the recession. And as soon as the labour market slowed its free-fall this spring, gasoline consumption resumed its upward track – even though gasoline prices have been climbing since the beginning of this year.
It`s another sign that the global recession has not been nearly as corrosive in Canada as in the United States, Mr. Cross said, and that employment and incomes are not declining as much here.
Indeed, he notes that auto sales have picked up because of increased purchases of trucks – not the more gas-efficient cars that would fit with the pattern of a recession-weary consumer.
Retail sales volume dipped 0.6 per cent in April, after a net gain of 2.4 per cent in the first three months of the year. Autos drove most of these changes in overall sales, as non-automotive demand has been little changed in the first four months of the year.
Auto sales fell slightly in April, although they remained about 10 per cent ahead of their December low. Preliminary data point to a small gain in May, as demand slowly returned to its level before sales crashed late in 2008. Trucks have led the recovery of sales so far this year.
Within other goods, a notable rebound was seen in spending on furniture and appliances, which had slumped in February and March despite higher home sales. Clothing also recovered from a drop in March. However, these gains were offset by another decline in consumption of non-durable goods. A cool spring also boosted demand for home heating fuels (which are not in retail sales).
Housing continued to recover slowly in the spring. Existing home sales led the rebound, as a fourth straight gain in May lifted sales to near their level before last autumn`s slump. Housing starts rose 9 per cent in May, but were still almost 50 per cent below the highs of last summer. Weak new home sales continued to dampen construction of single-family dwellings.
