NMMA releases industry growth forecast

The NMMA said it is making the 2016 ITR Economics Forecast for Boat Building Production Q3 free for NMMA members to download.
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The National Marine Manufacturers Association said it is making the 2016 ITR Economics Forecast for Boat Building Production Q3 free for NMMA members to download.

The NMMA said the report includes forecasts through mid-2019 on wholesale shipments, as well as historical data trends and rates of change in the United States.

The NMMA cited these two highlights from the third-quarter report:

Production forecasts were upwardly revised in the third quarter to reflect accelerating growth, with quarterly growth up 12 percent and annual growth up 10.9 percent.

Forecasts indicate growth will continue through June 2019, decelerating toward the end of 2018.

NMMA president Thom Dammrich talked about the ITR Economics forecast in a speech at the industry breakfast during the International BoatBuilders’ Exhibition & Conference in Tampa earlier this month.

In an interview with Trade Only Today after the opening event, Dammrich said, “I have this sense that we’ve reached a phase of acceleration as some other industries are starting to turn down a little bit. Everything came back quicker than we did, and everything peaked sooner than we did. We haven’t peaked yet. And if you believe the ITR Economics forecast for us, we’re not going to peak until the first quarter of 2018, and we’re going to continue to grow well beyond that.”

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