NMMA launches quarterly Marine CEO Sentiment Survey

Author:
Publish date:

The National Marine Manufacturers Association today reported in its Currents newsletter that CEOs and other top-level executives remain “overwhelmingly upbeat” in their outlook on business conditions. The data came from NMMA’s Marine CEO Sentiment Survey, which officially launched this week.

For the third quarter, 65 percent of executives said business expanded, and 31 percent said business was stable. About 80 percent reported “substantial growth in sales” for the third quarter, while 61 percent reported “modest to substantial” hiring beyond attrition.

The combination of strong sales and steady economic growth is bolstering business leaders’ positive outlooks. Seventy-one percent of manufacturers said they made “modest to substantial investments” in capital expenditures like equipment or facilities.

CEO outlooks improved in the third quarter, according to the data, compared to the second quarter, with more executives (54 percent compared to 45 percent) expecting business conditions to improve in the next six months. Fewer executives (10 percent compared to 16 percent) expected business conditions to worsen.

The report noted that “growing concerns over labor availability, rising costs of raw materials and tariffs are tempering expectations — all three of which are similarly impacting the larger manufacturing landscape and economy.”

The Marine CEO Sentiment Survey will be released each quarter. The full report is available to NMMA members.

Related

Viking Holds Vaccination Event

The New Jersey-based builder is working with local healthcare providers to offer Covid-19 shots to employees and their families.

Bellingham to Supply Dock for Superyacht Marina

Bellingham Marine will design and install a floating concrete dock system at Hurricane Hole Superyacht Marina in the Bahamas.

Off the Charts

Even as builders faced order backlogs and product shortages, registrations continued to soar in March.

Maverick Boat Group Expands

The Florida-based builder plans to increase production capacity by 30 percent and add 150 new jobs.

Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.