Issue link: https://read.dmtmag.com/i/459238
24 | Boating Industry | January 2015 [ 2015 Industry Outlook ] www.BoatingIndustry.com than 2013, when 63 percent of respondents said their revenue was up from 2012. The one exception to the growth in new boat sales in 2014 was – stop us if you've heard this before – the sterndrive segment, once again stub- bornly mired in a downward spiral. According to the October Info-Link Bell- wether report, the sterndrive/jet category was the only one to be down year-over-year, with unit sales down nearly 5 percent on a rolling 12- month basis. (For more on the sterndrive mar- ket, and the attempts to grow that segment, see the Market Trends article on p. 32.) The Bellwether report tracks boat sales across the country based on new U.S. boat reg- istrations. Bellwether states are geographically dispersed states representing roughly half of the U.S. boat market (varies by market segment and time of year). Sales were up in every other category when compared to October 2013, although at a slower rate than earlier in 2014. PWC sales were particularly strong, up about 25 percent from 2013. The sport fi sh and ski boat segments both are showing unit sales increases of more than 10 percent from 2013, while out- board boat sales – which includes pontoons – were up just less than 10 percent in October after spending most of the year showing double-digit, year-over-year increases from 2013. There's little reason to expect those trends to change in 2015, said Peter Houseworth, director of client services for Info-Link. In retrospect, it's probably not that surpris- ing that the market grew as it did last year, as 2014 ended up being a pretty good year for the economy. And as the economy goes, so goes the boating market, Dammrich said. "The economy is growing," he said. "People are working, consumer confi dence is [up]. Every- thing's just falling our way on the economic front." Consider the following: Gross domestic product grew 3.9 percent in the third quarter of 2014, following a 4.6 percent increase in the second quarter. Those were the two strongest back-to-back quarters of growth since 2003, and makes four out of the last fi ve quarters that GDP has grown at least 3.5 percent. Unemployment dropped to 5.8 percent in October and stayed there in November, the low- est rate since July 2008. Through November, the economy was on pace to add 2.89 million jobs » October and November's unemployment rate, the lowest since July 2008 5.8% 5.8% » Estimated increase in 2014 new boat sales vs. 2013 8% 8%