Canadian Electrical Wholesaler

Feb 28, 2020

Q4 GDPGrowth in real gross domestic product (GDP) slowed to 0.1% in the fourth quarter, owing to a decrease in business investment and weak international trade. These declines were offset by increased household spending. Final domestic demand edged up 0.2%, after rising 0.8% in the third quarter.

The annual growth rate of Canada's real GDP was 1.6% for 2019, a deceleration from the 2.0% growth in 2018. By comparison, real GDP in the United States increased 2.3%.
The slowing of Canada's fourth quarter GDP was influenced by several factors, including pipeline shutdowns, unfavourable harvest conditions, rail transportation strikes, impacts on motor vehicle and parts manufacturing from the United Auto Workers' strike in the United States, and continued global trade tensions and market uncertainty.

A strong increase in household spending on services (+0.8%) pushed overall growth into positive territory. Businesses accumulated $10.5 billion of inventories, partly attributable to supply chain disruptions. The economy-wide stock-to-sales ratio increased from 0.850 in the third quarter to 0.862 in the fourth quarter.

Household spending remains strong

Growth in overall household spending (+0.5%) stemmed from household spending on services (+0.8%). Notable increases occurred in imputed rents of owner-occupied housing (+0.6%), paid rents (+0.7%), food and beverage services (+0.4%), air transport (+2.3%) and telecommunication services (+1.0%).

Terms of trade improve slightly

Import prices fell 0.5% in the fourth quarter, while export prices rose 0.3% largely because of a 2.5% increase in the prices of exported crude oil and crude bitumen. Consequently, the terms-of-trade—the ratio of the price of exports to the price of imports—rose 0.8%. Improved terms-of-trade contributed to growth in gross national income (+0.4%), which captures the real purchasing power of income earned by Canadian-owned factors of production.

The GDP implicit price index, which reflects the overall price of domestically produced goods and services, rose 1.0%.

Household disposable income increases

In nominal terms, a 1.2% rise in compensation of employees boosted household disposable income by 1.3% in the fourth quarter. Household final consumption expenditure grew 1.0%, and the household saving rate was 3.0%.

Annual GDP growth slows in 2019

The slowdown in annual growth from 2.0% in 2018 to 1.6% in 2019 was largely due to weaker international trade and investment declines.

Housing investment fell 0.6%, with a 3.4% decline in new construction partly offset by a 5.8% rise in ownership transfer costs. Business investment in non-residential structures was up 0.9%, while investment in machinery and equipment declined 1.4%, and investment in intellectual property products fell 4.7%. 

Growth in export volumes slowed from 3.1% in 2018 to 1.2% in 2019, while growth in import volumes slowed from 2.6% to 0.3%. GDP growth was driven by robust household spending on services (+2.1%). Household spending on durable goods grew 0.6% in 2019, the lowest rate since 2009 (-3.0%).

In nominal terms, growth in GDP slowed slightly—from 3.9% in 2018 to 3.6% in 2019. The labour market remained resilient in 2019, resulting in a 4.4% rise in compensation of employees. This rise outpaced the increase in household spending (+3.3%) and raised the household saving rate to 2.7% in 2019.

Terms of trade improve slightly

Import prices fell 0.5% in the fourth quarter, while export prices rose 0.3% largely because of a 2.5% increase in the prices of exported crude oil and crude bitumen. Consequently, the terms-of-trade—the ratio of the price of exports to the price of imports—rose 0.8%. Improved terms-of-trade contributed to growth in gross national income (+0.4%), which captures the real purchasing power of income earned by Canadian-owned factors of production.

The GDP implicit price index, which reflects the overall price of domestically produced goods and services, rose 1.0%.

Household disposable income increases

In nominal terms, a 1.2% rise in compensation of employees boosted household disposable income by 1.3% in the fourth quarter. Household final consumption expenditure grew 1.0%, and the household saving rate was 3.0%.

Annual GDP growth slows in 2019

The slowdown in annual growth from 2.0% in 2018 to 1.6% in 2019 was largely due to weaker international trade and investment declines.

Housing investment fell 0.6%, with a 3.4% decline in new construction partly offset by a 5.8% rise in ownership transfer costs. Business investment in non-residential structures was up 0.9%, while investment in machinery and equipment declined 1.4%, and investment in intellectual property products fell 4.7%. 

Growth in export volumes slowed from 3.1% in 2018 to 1.2% in 2019, while growth in import volumes slowed from 2.6% to 0.3%. GDP growth was driven by robust household spending on services (+2.1%). Household spending on durable goods grew 0.6% in 2019, the lowest rate since 2009 (-3.0%).

In nominal terms, growth in GDP slowed slightly—from 3.9% in 2018 to 3.6% in 2019. The labour market remained resilient in 2019, resulting in a 4.4% rise in compensation of employees. This rise outpaced the increase in household spending (+3.3%) and raised the household saving rate to 2.7% in 2019.

Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/200228/dq200228a-eng.htm

       Partnering For The Next Step                                                                     

Siemens CanadaWelcome to the Digital Enterprise Virtual Summit brought to you by Siemens

How quickly can you react to changing conditions and demands in your market? How can you ensure your production will run securely at any time in the future?

Industry’s digital and technological transformation is the answer for meeting today’s and tomorrow’s challenges and market needs.

With the right digitalization and automation solutions, expertise won from practical experience, and a partnership approach that benefits all involved parties.

To explore these possibilities, we’re bringing together top-level speakers, specialists and decision-makers from various industries and experts from Siemens to the Digital Enterprise Virtual Summit under the motto “Partnering for the next step.”   

This virtual summit will be an interactive digital event featuring first-hand experiences and success stories achieved with industrial digitalization and automation solutions, and cutting-edge technologies.

Join us on July 16 and learn from customers and experts how you can respond efficiently, flexibly and safely to the changing market environment.

To cover as many different time zones as possible, we offer two almost identical live sessions – you can also watch them on demand at your convenience:

Sessions runs from :  9:30 am to 2:15 pm ET (3:30 pm to 8:15 pm CEST)


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John JefkinsBy John Jefkins

In 2011, I started working in the electrical arena and quickly noticed that there was a high employee retention rate within the industry. Today, I regularly engage with Electro-Federation Canada members with 20, 30 and even 40 plus year tenures. Other industries I had worked in previously, such as telecommunications, had higher turnover rates.

Our industry faces an increasing need for talent, with new retirements and product/process innovations and modernization driving the need for specialized roles — some not even known yet.

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Digital Twin MarketA recent Markets & Markets report estimates the Digital Twin market will grow from US$3.8 billion in 2019, to US$35.8 billion per year by 2025, at a CAGR of 45.4%. Digital Twin software is already revolutionizing industries such as healthcare, architecture, aerospace, defence, and automotive and transportation.

Furthermore, the global smart infrastructure market, which includes the Digital Twin sector, is expected to thrive at a considerable CAGR between 2020 and 2025 as demand for the smart infrastructure has been a booming year on year, reports Market Research Explore - details. 

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PNNL StudyBy Craig DiLouie

The U.S. Department of Energy has released the results of a study examining authentication vulnerabilities in connected lighting systems (CLS). Particularly as emerging CLS incorporate distributed intelligence, network interfaces and sensors, they can serve as data-collection platforms that enable a wide range of valuable new capabilities as well as greater energy savings in buildings and cities. However, CLS technology is currently at an early stage of development, and its increased connectivity introduces cybersecurity risks that are new to the lighting industry and must be addressed for successful integration with other systems.

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David GordonBy David Gordon

COVID-19 has heightened the benefit of, and interest in, eCommerce for electrical distributors. Our second and third COVID-19 Electrical Market Sentiment Reports have shown that those with an eCommerce offering have seen online sales increases. Further, from conversations with distributors, their site activity increased. The benefit is that these companies had lower sales declines (and some increases), and were able to better serve their customers.

A further benefit is that their remote workforce had access to an online resource, other than manufacturers, for quick, easy, product research.

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2020 q2 Pulse of Lighting FindingsChannel Marketing Group’s 2020 Q2 Pulse of Lighting Report projects that the lighting market, through electrical distribution, contracted by 20%.

The survey, conducted the third week in June, received responses from 164 individuals who equally represented industry stakeholders.

Distributor Performance
Very few distributors reported either flat or positive performance with over 30% reporting declines of over 30% for the quarter.

 

 

 

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EikoEIKO has announced the the introdutction of EiKO Marketplace, a digital storefront, located in the EiKO Portal. Developed to market and sell promotional specials and excess inventory including generational, overstock, and niche products; the EiKO Marketplace presents an opportunity to offer high-quality lighting at incredible savings.

Due to the rapid development and generational changes of LED technologies the timing is perfect to launch the EiKO Marketplace as an outlet to sell high quality, value-priced products.

 

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LevitonLeviton Canada is pleased to announce the nomination of Thomas Supinski as Sales Director for Alberta and the Prairies as of June 1st, 2020, as Julie Marineau will be moving to Montreal along with her family. Julie will be promoted to Vice-President, Retail at Leviton Canada’s head office.

Thomas has been residing in Calgary since 2003 and has a deep understanding of the regional market and its specific needs.

 

 

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Peers & Profiles

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Electro-Federation Canada’s Young Professional Network (YPN) is a fantastic tool for industry ...
Sean Bernard is the Intelligent Controls Manager, Canada for Ideal Industries. Sean resides in ...
Christina Huang is a Senior Contracts Manager for Schneider Electric. She has a varied, technical ...
Jenny Ng is a Business Development Manager for the Power Solutions Division of Schneider Electric. ...
With over 60-years of experience in the lighting industry, CBC Lighting has established itself as a ...

 

Anju UddinBy Blake Marchand

Sonepar is excited to introduce Anju Uddin as the new Marketing Manager for their Ontario Region! Anju has more than 15 years of experience as a marketing expert, which includes running an independent agency working with a multitude of businesses in various industries and geographies from around the globe. 

With a passion for reinvention and finding success through a commitment to education and innovation, Anju has utilized her exceptional creativity and business acumen to engineer seamless brand experiences...

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