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|Tide Turning for U.S. Boating Industry|
|Recreational boating industry reports ten percent increase in new power boat sales in 2012, sees first signs of healthy growth since recession; Small, versatile boats leading the recovery|
CHICAGO – January 3, 2013 – The U.S. recreational boating industry began to see the tide turn for new power boat sales with an estimated ten percent increase in 2012, according to the National Marine Manufacturers Association (NMMA). Early projections indicate the industry will see additional increases in 2013 by as much as 5-10 percent. This level of growth in 2013 will depend on a number of factors including continued improvement in economic conditions that impact recreational boating—namely consumer confidence and the housing market—and sustained increases in Americans’ participation in outdoor recreation.
“Improving economic conditions and what seems to be a resurgence in Americans’ love for the outdoors, helped fuel steady growth in new power boat sales in 2012,” notes Thom Dammrich, president of NMMA. “A ten percent boost at retail in 2012 is significant as this is the first time since the recession we saw healthy growth across the powerboat market, which will create momentum in 2013.”
It’s these smaller boats, those less than 27 feet, which make up 96 percent of the 12.4 million registered boats in the U.S. and are leading the industry out of the recession. Boats that fall into this category include aluminum all-purpose boats and pontoons, fiberglass bowriders, fish and ski boats, and jet boats.