ECONOMIC INDICATORS –
THE LATEST UPDATES
EDITOR’S NOTE: As a benefit to its members, Sail America provides access to an assortment of critical data and information, including a monthly economic report via Boating News Net, an NMMA compilation report of the latest monthly economic indicators. This report is available on the members-only section of the Sail America website – www.sailamerica.com.
The September 9 summary of Boating News Net – Monthly Economic Report – included the following briefs (please Click Here and log on to the Members Only website for full report and sources)
US Economic Indicators:
- GDP fell 1% in the second quarter with smaller declines in housing, business investment and exports, with an upturn in government spending.
- Consumer spending decreased and imports declined less than in the first quarter.
- Corporate profits rose 5.7% at a quarterly rate.
- Consumer confidence rebounded in August, up 7 points from the previous month.
- CEO confidence jumped in the second quarter of 2009 to 55 after dropping to a record low the last quarter of 2008.
- In August, the number of unemployed increased by 466,000 to 14.9 million; unemployment rate rose by 0.3 percentage points to 9.7 percent.
- US retail sales were unchanged in July compared to a year ago. Cash for Clunkers auto program boosted auto and parts sales by 2.4%.
Boat Manufacturer Economic Indicators:
- Powerboat sales (outboard/sterndrive/inboard powered boats) wholesale shipments for NMMA’s control group (representing 72% of US market) were down 50 in unit volume and 52% in factory value through April.
- Powerboat retail sales were down 27% for the rolling 12-month period of the first quarter compared to a year ago.
- Recreational boat and marine engine export volumes were down 41% in the second quarter of 2009, while dollars were down 57% from a year ago. Import volumes were down 35%; dollars were down 51%.
This vital information can be accessed monthly through the members-only section of the Sail America website.