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NMMA December report: Economic indicators remain cautious

by National Marine Manufacturers Association 5 Dec 2024 09:23 PST
NMMA's Recreational Boating Industry Monthly Data Summary for December 2024 © National Marine Manufacturers Association

NMMA's Recreational Boating Industry Monthly Data Summary for December 2024 is now available for download. Month to month, economic indicators included in the report remain relatively unchanged with most maintaining their "caution" status.

The U.S. Manufacturing PMI Index saw a slight improvement to 47.3%, up.2%, with increased production activity. Most notably is the decline in the Federal Funds Rate, marking its first drop since August 2023. This decline may reduce borrowing costs, potentially encouraging consumers to purchase larger items like boats.

Year-to-date, new personal watercraft (PWC) sales continued to have a strong presence in the market, with a total of more than 65,000 units sold, representing 31.5% of total new powerboat sales.

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