American consumers haven’t quit spending. They may not be doing as much of it in department stores as they once did, but the Commerce Department’s April retail sales data and a consumer sentiment report combined last week to produce some of the best news the economy has received this year.
The marine industry is a global enterprise. Builders, dealers, marinas, equipment manufacturers and other businesses are found worldwide, and there are major boat shows on all continents.
Pete Southgate of the Wright Maritime Group was appointed co-chairman of the technical committee of the International Superyacht Society.
Yacht charter company The Moorings is adding the Palma, Mallorca region of Spain to its list of destinations.
Few important economic reports are due this week and we’ll have to wait until Friday to see them, but we should pay close attention to retail sales data for April and the University of Michigan’s preliminary Consumer Sentiment Index for May.
U.S. employment growth slowed in April as the economy added 160,000 jobs, the smallest increase since September.
The International Superyacht Society said YachtInfo — its educational platform — will present a seminar on visiting Norway and Cuba today during the MYBA’s 28th annual Charter Show in Genoa, Italy.
Consumers are earning more, but they’re not spending much of that increased income and their confidence in the economy and their place in it is lower than it has been in months.
Consumer confidence slipped in April more than economists expected as the public proved to be less optimistic about the economy in the short term than they were last month.
There are few economic indicators more telling than home purchases. When sales are rising, they confirm that consumers have money to spend, they feel secure in their jobs and they’re optimistic about the future.
A postcard returned to Great Britain’s Marine Biological Association was recognized by the Guinness World Records as the oldest message in a bottle ever found.