Week of May 25-29
The week of May 25th to 29th shows a significant increase in commercial vehicle activity in North America, according to Geotab’s COVID-19 instrument panel. Indeed, while the previous week, with civic holidays in both the United States and Canada, showed a decline of just over 2%, the last week of May ended with an increase of almost 4% in commercial vehicle activity, and a 3.7% increase in trade between the three countries of the Canada/US/Mexico trade agreement.
Week of May 25-29
COMMERCIAL VEHICLE ACTIVITY
Up 3.9% from the previous week
According to figures compiled worldwide by Geotab from over 2 million commercial vehicles connected to its network, the recovery will have been strongest in Canada this week, with an average activity level slightly above 100% compared to the February 2020 reference period. This reassuring figure does not necessarily indicate a complete return to normal in Canada, but nevertheless shows a higher rate of activity recovery than our southern neighbors, where the weekly average was about 93%.
Canadian data once again indicate that Manitoba had the highest level of activity, followed in order by Prince Edward Island, Quebec, Ontario and British Columbia, all with levels above or near the levels observed in February. Alberta and Saskatchewan showed a significant recovery from the previous week but remained at about 95% of pre-Covid activity levels. New Brunswick, Newfoundland and Labrador, and Nova Scotia remained lagging behind, with respective activity levels of 87%, 89%, and 90%.
Data analyzed by transport market segment were all on the rise during the period, with significant recoveries in retail, general freight transportation, construction and business services. These segments, as well as the government and waste processing segments, had activity levels close to 100%.
No surprise here, people transportation remains the segment most affected by the crisis, as it continues to be well below the usual figures.
During the peak of the crisis in April, trade between Canada and its main partner declined by $23.4 billion, largely due to massive reductions in the automotive industry and energy products. The most recent Statistics Canada data indicate that during April, exports to the United States declined by 35.7%, while imports declined by 35.3%. Canada’s trade surplus with the United States dropped from $3.5 billion in March to $2.2 billion in April.
Source: Statistic Canada
These figures are consistent with the data compiled by Geotab during the month of April, where the monthly average of border crossing in both directions indicated a rate of about 67% of the normal volumes.
The last week of May, however, appears to indicate a gradual return to normal, with a significant recovery compared to April and the first weeks of May. By June 1, the level of commercial vehicle border crossings was at 92 from Canada to the United States, and at 93% in the opposite direction. This boost in energy can be attributed widely, again, to the recovery of vehicle manufacturing plants on both sides of the border.
For the latest data from the Commercial Vehicle Business Covid-19 recovery Dashboard, visit https://www.geotab.com/covid-19-recovery/ .
Note: Data compiled by Geotab compare current levels of transportation industry activity to normal levels for the reference period of February 1st to March 15th. This data has been aggregated and anonymized from over 2 million Geotab connected commercial vehicles globally.
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