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North Sails Loft 57 Podcast

January Report: NMMA's Monthly Data Summary reveals economic trends through October

by National Marine Manufacturers Association 28 Jan 16:45 PST
January 2025 Recreational Boating Industry Monthly Data Summary © National Marine Manufacturers Association

The National Marine Manufacturers Association (NMMA) has released its January 2025 Recreational Boating Industry Monthly Data Summary, providing key insights into the state of the industry through October 2024.

This comprehensive report highlights retail and wholesale sales trends, economic indicators, and historical data that are invaluable for industry stakeholders.

Highlights from the October 2024 Data:

  • Retail sales of new powerboats declined by 9.5% year-over-year, reflecting ongoing market normalization after pandemic-driven demand surges and the impact of persistent impacts from inflation and rising interest rates.
  • Broader economic uncertainty continued to weigh on big-ticket purchases, including boats, automobiles, and homes. This was likely exacerbated as the country awaited a decision on the presidential election.
  • Despite these headwinds, consumer confidence saw a slight uptick in October, offering an early sign of cautious optimism to be monitored closely in the coming months.
Continue reading the full article here...

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