America’s National Marine Manufacturers Association announced an increase in Q4 sentiment among marine manufacturer CEOs

Business confidence among marine manufacturer CEOs increased in the fourth quarter with 88% of marine CEOs saying current conditions were stable (56%) or expanding (32%), compared to 76% in the previous quarter (in which 51% rated conditions stable and 27% expanding). The report comes from NMMA’s Marine CEO Sentiment Survey for Q4 2019 that includes insights on a quarterly basis from senior executives at recreational boat, marine engine and accessory manufacturing businesses.

Fifty-one percent of marine CEOs expect business conditions to improve in the next six months, up from 30% in the third quarter. Another 40% expect business conditions in the next six months to remain steady. Forty-eight percent of manufacturers reported modest to substantial growth in sales in Q4 and 24% reported sales were on par with where they were a year ago.

Marine CEO sentiment aligns with where retail sales of new boats netted out in 2019 with more than 280,000 units sold, the second highest total since 2007, following a pickup in sales during the second half of the year.