Video: NMMA President Talks State Of Recreational Boating

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FEATURED INDUSTRY NEWS Video: NMMA President Talks State Of Recreational Boating In a new Marine Minute, NMMA President, Frank Hugelmeyer, shares NMMA’s take on the current state of the recreational boating industry, including a look at consumer behaviors and demand in 2023 and how that’s shaping headwinds and opportunities the association is watching in 2024. While new boat sales are expected to remain relatively flat in 2024, boating expenditures are likely to remain strong as the industry approaches spring and summer boating activity. Read More LEADING ECONOMIC AND POLICY NEWS Chinese Imports Threaten Administration’s Manufacturing Goals The Washington Post reports China’s manufacturing output “dwarfs its domestic needs – especially with a property bubble weighing on the economy – so prices for its goods are falling. In February, U.S. imports from China cost 3.1 percent less than one year ago, the Bureau of Labor Statistics said on Friday.” That “helps the Federal Reserve’s fight against inflation.” But “those low-priced Chinese goods may cost American manufacturers sales, threatening the Biden administration’s election-year hopes of boosting the number of factory jobs.” China’s factory output “in the first two months of the year rose 7 percent over the same period in 2023, the government said on Monday.” Gas Prices Expected To Continue Rising In Coming Months CNN reports gas prices “are now higher on a year-over-year basis” for the first time since late 2023, and are expected to continue increasing “in the coming weeks and months, especially if Russian oil facilities continue to get hit by drone attacks.” The change is “a problem for White House and Federal Reserve officials hoping to declare victory over inflation,” as it was responsible for “last week’s hotter-than-expected consumer price index and a disappointing wholesale inflation report.” As a result, “hopes for a March rate cut have faded, and investors are now betting on June or July.” Major Stock Indices Post Gains CNBC reports that stocks “rose Monday as Wall Street looked to key artificial intelligence conference and awaited new monetary policy guidance from the Federal Reserve. The Dow Jones Industrial Average climbed 75.66 points, or 0.2%, to settle at 38,790.43. The S&P 500 gained 32.33 points, or 0.63%, to finish at 5,149.42, while the Nasdaq Composite advanced 0.82% to end at 16,103.45.” Previous Top Stories  • Marketing Resources Available From Discover Boating To Help Engage Next Gen Boaters  • Survey: Economists Expect Fed To Make Three Rate Cuts This Year Starting In June

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