Skip to main content

Consumer confidence gains in May

The Conference Board Consumer Confidence Index increased in May, its third consecutive monthly gain.

The index now stands at 63.3, up from 57.7 in April. The Present Situation Index increased to 30.2 from 28.2. The Expectations Index improved to 85.3 from 77.4 last month.

"Consumer confidence posted its third consecutive monthly gain and, although still weak by historical levels, appears to be gaining some traction," said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement.

"Consumers' apprehension about current business conditions and the job market continues to slowly dissipate. Consumers' expectations, on the other hand, have increased sharply over the past three months, propelling the Expectations Index to prerecession levels," Franco added. "The improvement has been fueled primarily by growing optimism about business and labor market conditions. Income expectations, however, remain downbeat."

Consumers' assessment of current-day conditions continued to improve in May.

Those saying conditions are "good" increased to 10 percent from 8.9 percent, while those saying business conditions are "bad" declined to 39.3 percent from 40 percent.

Consumers' appraisal of the labor market was also more positive. Those claiming jobs are "hard to get" decreased to 43.6 percent from 44.8 percent, while those saying jobs are "plentiful" was virtually unchanged at 4.6 percent.

Click here for the full release.

Related

Northpoint

Northpoint Expands Marine Presence

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

BRP

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

Airmar Announces Training Dates

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

Norm

The Survey Says …

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

1_MDI

Marine Development Inc. Changes Hands

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

Screen Shot 2022-11-30 at 10.06.58 AM

Yanmar Reports Record First Half

Supported by overseas growth in construction equipment, generators and components, the company announced net sales of approximately $3.5 billion.

1_FWC.DERELICTS

FWC Accepting Vessel Turn-In Applications

The program disposes of unwanted, at-risk vessels before they become derelict at no cost to owners.

1_WAHLSTROM.ACQUISITION

Walstrom Acquires Grand Bay Marine

The transaction expands the company’s footprint in the Great Lakes region and brings the Regal, Starcraft, Godfrey, Bayliner, Robalo and Berkshire brands to Walstrom’s portfolio.

1_ROWE.OBIT

Indmar Co-Founder Dies at 95

A 20-year veteran of the U.S. Marine Corps, Dick Rowe dedicated himself to the recreational boating industry for more than four decades.