Improving Consumer Confidence?

The marine industry has continued its slow, but steady recovery in 2013.  Always buoyed to Consumer Confidence, the industry was happy to review the following in August:

  • Consumer confidence bounced back slightly in August to 81.5 after slowing to 81.0 in July
  • Consumers are feeling more confident about short-term outlooks but remain more subdued about current business conditions; however income expectations reached a 2 year high
  • CEO outlooks are more upbeat posting an 8 point gain in the second quarter.  60% of respondents say current economic conditions are better than they were 6 months ago and expect further improvement in the next 6 months
  • Retail sales rose for the fifth consecutive month in August and the auto industry, in particular, is showing consistent increases
  • Lastly, housing starts rebounded in July (up 5.9%) and are up 25% from one year ago.  The inventory of available existing homes dropped to a 5.1 month supply which has led to an 13.5% increase in median home sale prices

Sources:  U.S. Census Bureau; Bureau of Labor Statistics and The Conference Board