Skip to main content

Consumer confidence drops in November

The Conference Board Consumer Confidence Index dropped in November. The index now stands at 88.7, down from 94.1 in October.

The Present Situation Index declined from 94.4 to 91.3 and the Expectations Index decreased sharply to 87.0 from 93.8 in October, the board said today.

“Consumer confidence retreated in November, primarily due to reduced optimism in the short-term outlook,” The Conference Board director of economic indicators Lynn Franco said in a statement. “Consumers were somewhat less positive about current business conditions and the present state of the job market; moreover, their optimism in the short-term outlook in both areas has waned. However, income expectations were virtually unchanged and gas prices remain low, which should help boost holiday sales.”

The percentage of consumers who expect business conditions to improve during the next six months decreased from 19.4 percent to 17.6 percent and those who expect business conditions to worsen rose from 8.9 percent to 10.7 percent.

Consumers’ outlook for the labor market was also less optimistic. Those who anticipate more jobs in the months ahead decreased from 16 percent to 15 percent and those who anticipate fewer jobs rose from 14.1 percent to 16.4 percent.

The proportion of consumers who expect growth in their income edged down from 16.7 percent to 16.3 percent and the proportion who expect a drop in income was virtually unchanged at 11.4 percent, compared with 11.3 percent in October.

The Conference Board is a global, independent business membership and research association working in the public interest. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.



Industry Mourns Cruisers Yachts Owner

K.C. Stock, who was 84, was known for his “commitment to the employees at Cruisers Yachts.”


Grand Banks Purchases Florida Property

The parcel, which is opposite the company’s Stuart yard, has berths for up to nine boats and will increase service capabilities.


Limestone Boat Co. Posts Q3 Results

Unit production was down compared with the second quarter, and revenues decreased 33%.


Yamaha Dealers Now Carry Siren Systems

Siren Marine’s “Connected Boat” technology can be purchased and installed at more than 2,100 Yamaha outboard dealers.


Northpoint Expands Marine Presence

Northpoint Commercial Finance has partnered with Elite Recreational Finance to offer retail financing.


BRP Reports 71% Increase in Q3 Revenues

The Sea-Doo manufacturer had total revenue of $2.7 billion, but North American marine retail sales were down 47%.


Airmar Announces Training Dates

Certified Installer and SmartBoat system classes are being held this month in New Jersey and next year in New Hampshire.


The Survey Says …

Surveying customers to find out what they think about your business has never been more important.


Marine Development Inc. Changes Hands

Mick Webber, the former president/CEO and owner of HydroHoist, has purchased the company from its founders.