The perfect storm is coming and the Canadian pool and spa industry is right in the middle.
High gas prices are expected, with a predicted $1.50 (ref) for the summer. Interest rates remain at an all time low with a Bank of Canada Over Night Rate of 1% (ref) and 5 year fixed rate mortgages at 3.49% (ref). Canada is now the only G7 country to have surpassed the 2008-2009 recession levels and is tracking well for 2012 (ref) with the Index of Consumer Confidence increasing the third month in a row for March (ref).
Now enter the unusually warm temperatures that much of Ontario and Canada have seen and voila, increased activity in Pool and Spa businesses with more green lights for big backyard projects,
All this gives consumers a good reason to cocoon in their homes this summer. Let's hope that the warm dry weather continues and our industry grows stronger.
If you have any stories or input on the start of the season then please comment below.
Here's to a great start to the 2012 season.
(The above picture of $1.399 litre gas was taken in the town of Shakespeare Ontario at 8:00 pm April 8, 2012)