The latest version of the National Marine Manufacturers Association (NMMA) Data Dashboard, which measurers performance indicators of both wholesale and retail boating sales as well as general economic indicators and trends, is showing a mixed bag of results that can be viewed as mostly positive.
According to the trade group, there continues to be weakness in some global markets, with the Purchasing Managers Index (PMI) in nine of the top 20 boating markets contracting during October, while PMIs in four of the top five export markets – including Canada, Mexico, Australia and the Netherlands – were expanding.
Q3 US Gross Domestic Product (GDP) was revised upward to 2.1% from 1.9%, fuelled by strong consumer spending.
The Dashboard report states consumer confidence moderated over the past four months, with overall sentiments remaining high, while Bloomberg News reports the University of Michigan’s preliminary sentiment index for December “increased to 99.2 from 96.8 in November, exceeding all but one forecast in a Bloomberg survey of economists,” and rising to “a seven-month high as record stock prices bolstered optimism and Americans’ buying attitudes improved.”
The US housing market also picked up with new home sales up 31% from a year ago and new housing starts up 14% from a year ago.
In addition to wholesale and retail powerboat and outboard engine sales data, the Data Dashboard tracks and provides economic metrics, and interactive graphs illustrating recent and historical trends.