Marine Manufacturing CEOs: Business is stable
by National Marine Manufacturers Association 30 Oct 2019 07:32 PDT
Recreational boating © Marc B Ainsworth
As the recreational boating industry prepares to close out 2019 and what will have been the second highest level of sales in 12 years, NMMA member manufacturer confidence continues to be favorable with 78 percent of CEOs stating business is stable or expanding (51 percent stable and 27 percent expanding).
The report comes from NMMA's Marine CEO Sentiment Survey for Q3 2019 that includes insights on a quarterly basis from senior executives at NMMA member boat, engine and accessory manufacturers.
A year ago (Q3 2018) 97 percent of CEOs also reported an expanding or stable environment, however, this shifted in Q3 2019 from a majority seeing expansion to a majority seeing stabilization. This is in line with what the industry is seeing in retail sales as there are signs of a flattening out after seven consecutive years of growth and sales reaching an 11-year high in 2018.
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