Industry leaders upbeat about marine business

Published On: December 18, 2018Categories: Industry News, News

For the third quarter of 2018, marine manufacturer CEOs and top-level executives remain overwhelmingly upbeat in their assessment of current business conditions as they navigate headwinds, primarily from tariffs, rising raw materials costs, and the labor shortage. The report comes from the National Marine Manufacturers Association Marine CEO Sentiment Survey.

For Q3, 65 percent of executives report that business is expanding, and 31 percent report business is stable. The combination of strong sales and steady economic growth is bolstering business leaders’ positive outlooks. Looking ahead, CEO outlooks improved in the third quarter compared to what they reported for the second quarter, with more executives expecting business conditions to improve in the next six months. Not surprisingly, 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. Click here to view and download the full report.