Trade Only Today reports that the National Marine Manufacturers Association has issued its Marine CEO Sentiment Report for the third quarter, and the takeaways are overwhelmingly positive.
According to the report, 96 percent of CEOs responding reported stable or expanding business conditions, as robust sales from summer are continuing into early fall.
And a majority – 61 percent – expect conditions to improve in the next six months.
As demand for new product hasn’t seemed to plateau – and manufacturers catch up on backlogs and new orders for 2020 – 55 percent of those surveyed have reported increased hiring for the quarter, with labor costs and availability remaining as obstacles.
Click here to read the full report from Jeff Moser in Trade Only Today, including a chance to download the full report.
“Optimism among marine CEOs in Q3 reached the highest levels since the survey’s inception two and a half years ago,” said NMMA senior director of business intelligence Vicky Yu in a statement. “With marine manufacturing returning to normal capacity, the increase in boat sales, and upticks in hiring, the outlook among the industry’s leaders remains upbeat, and the expectation is that business conditions will continue to improve into 2021.”