Skip to main content

GDP inches up 2 percent in third quarter

The U.S. economy showed growth in the third quarter, but the gain was weak and not sufficient to make a dent in the nation's high unemployment rate.

Gross domestic product, the economy's broadest measure, grew at an annual rate of 2 percent in the three months that ended in September, the Commerce Department said today. GDP grew 1.7 percent in the second quarter.

"Growth is still positive but a bit disappointing. It's not where we would like it to be at this point of the recovery," Scott Brown, chief economist at Raymond James & Associates in St. Petersburg, Fla., told Reuters.

Consumers gave the economy a boost, increasing their spending by 2.6 percent in the quarter. The quarterly increase was the largest since a 4.1 percent gain that came at the end of 2006. Consumer spending accounts for 70 percent of U.S. economic activity.

Analysts expect Federal Reserve officials to announce bond purchases next week to push borrowing costs lower and spur businesses to expand investment and hiring.



Fork in the Channel

Boat registration totals for July mostly revealed considerable weakness compared with a year earlier, and tumbled back into a steeper downtrend than the prior month’s comparisons.


Inflation Stymies Boat Sales

Inventories of new and used boats are improving at the retail level but are still considered comparatively lean, according to the results of the monthly Pulse Report survey.


Ho, Ho, Ho, You Better Watch Out

It may be too early to decorate the showroom, but it’s not too early to hatch a marketing plan to profit from the holiday selling season.


Industry reacts to IBEX cancelation

With Ian expected to hit Florida’s west coast as a major hurricane, the consensus among those who spoke with Trade Only Today say it was the correct decision.


Ready for a Revolution

Electrification has been an increasingly common buzzword in the marine industry, especially in the past four to five years.


MarineMax Makes Appointment to its Board

Mercedes Romero has expertise in global procurement and strategic planning, working with such companies as Procter & Gamble and Starbucks.


DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.


Spot Zero Announces Expansion

The Fort Lauderdale-based reverse osmosis systems manufacturer is adding a 20,000-square-foot production facility.

1_Seakeeper Ride 450_2023 Sportsman Open 232 Center Console

Seakeeper’s New System Targets Pitch

Seakeepeer, whose gyroscopic stabilizers set the marine industry standard for eliminating as much as 95 percent of a boat’s roll, is now turning its attention to eliminating pitch with their Seakeeper Ride system.