NMMA Canada Inducts Kerrwil Publication's Andy Adams Into Hall Of Fame

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FEATURED INDUSTRY NEWS NMMA Canada Inducts Kerrwil Publication’s Andy Adams Into Hall Of Fame NMMA Canada announced yesterday the induction of Kerrwil Publication’s Andy Adams into the NMMA Hall of Fame. Andy’s career achievements and contributions to the recreational boating industry were recognized during the NMMA Canadian State of the Industry Breakfast on Tuesday, January 23 during the Toronto International Boat Show. Read More NMMA Joins eFuel Alliance This week, The National Marine Manufacturers Association (NMMA), became the newest member of the eFuel Alliance. The eFuel Alliance stands for fair competition and equal competitive condition for all relevant emission reduction solutions and aims to create the conditions for the industrial production and widespread use of CO2-neutral fuels from renewable sources of energy. Read More LEADING ECONOMIC AND POLICY NEWS Fourth Quarter GDP Growth Of 3.3% Beat Expectations As Inflation Continued To Slow Bloomberg says, “The US economy’s fourth-quarter growth trounced forecasts as cooling inflation fueled consumer spending, capping a surprisingly strong year that defied recession calls.” Gross domestic product “increased at a 3.3% annualized rate, according to the government’s preliminary estimate out Thursday. For all of 2023, the economy expanded 2.5%.” CNBC reports that the 3.3% annualized rate “compared with the Wall Street consensus estimate for a gain of 2% in the final three months of the year.” CNBC adds, “In addition to the better than expected GDP move, there also was some progress on inflation. Core prices for personal consumption expenditures, which the Federal Reserve prefers as a longer-term inflation measure, rose 2% for the period, while the headline rate was 1.7%. On an annual basis, the PCE price index rose 2.7%, down from 5.9% a year ago, while the core figure excluding food and energy posted a 3.2% increase annually, compared with 5.1%.”         The AP says consumers, “who account for about 70% of the total economy, drove the fourth-quarter growth. Their spending expanded at a 2.8% annual rate, for items ranging from clothing, furniture, recreational vehicles and other goods to services like hotels and restaurant meals.” According to the AP, “There is growing optimism that the Fed is on track to deliver a rare ‘soft landing’ – keeping borrowing rates high enough to cool growth, hiring and inflation yet not so much as to send the economy into a tailspin.” The New York Times and the Washington Post have more on the new numbers. Survey: Global Economic Outlook At Odds With Aggressive Rate Cut Bets Reuters reports, “Global growth is set to stay resilient this year and only pick up pace a bit in 2025, according to a Reuters poll of economists, a stable outlook at odds with still-relatively aggressive interest rate cut bets in financial markets.” S&P 500 Rises For Sixth-Straight Day, Hits Another New Closing High CNBC reports that the S&P 500 “rose for a sixth straight day, overcoming a slump in Tesla as data indicated continued economic growth. The broad index rose 0.53% to 4,894.16, clinching another all-time closing record.” The Dow Jones Industrial Average “added 242.74 points, or 0.64%, to 38,049.13,” and the Nasdaq Composite “increased by just 0.18% to 15,510.50, weighed down by a post-earnings tumble in Tesla shares.” WPost: Reducing Greenhouse Gas Emissions Necessary To Prevent Worsening Of Drought Limiting Global Trade The Washington Post in an editorial says that drought brought by climate change has reduced shipping traffic on the Panama Canal, “congested river shipping routes” on the Amazon, reduced shipping on the Rhein in 2022, and forced dredging on the Mississippi “to keep the barges moving.” According to the Post, “creative engineering is likely to be needed all over the world in the coming decades,” but “arresting the emission of planet-warming greenhouse gases is the only way to stop the list of looming climate-related threats to the global economy from getting even longer.” Previous Top Stories  • More Than 25,000 Boating Enthusiasts Turn Out For The Minneapolis Boat Show  • Shipping Costs Have Soared Due To Houthi Attacks

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