Registrations for new powerboats fell 7 percent since last year, according to the National Marine Manufacturer’s Association (NMMA). Jet drive boats were the only segment to see growth, with registrations rising 9 percent.

However, NMMA president Thom Dammrich believes inventory reductions may position the industry for growth in the last half of this year.

The NMMA uses a control group of boat manufacturers representing 77 percent of the U.S. market to collect its data.