Wells Fargo CDF has provided RV Dealer News with this economic update on the Canadian Economy and its relation to the RV industry as a whole.
Wells Fargo notes that the Country’s economy grew “by a weaker-than-expected 1.3%” in Q4 of 2018, but the country added nearly 56,000 jobs in February, driven by a gain in full-time work, leaving the unemployment rate at a consistent 5.8%.
The company says Loan repayments resulted from sales (liquidations) are flat at -1%. The weather has delayed customer service deliveries and retail sales, but Wells Fargo say there is still indicators of continued consumer interest in the RV Lifestyle and buying intentions.
Inventory aging remains healthy at 15%, meaning dealers will have the opportunity to sell aged inventory easily, mitigating increased aging on dealer lots.