NMMA reports rebounding consumer confidence
NMMA has announced that The Conference Board’s Consumer Confidence Index for May 2025 shows a rise of 12.3 points to 98.0, marking the largest monthly gain in four years and ending a five-month decline. This uptick is attributed to improved consumer expectations following eased trade tensions, notably a lessening of U.S.-China trade tensions.
The May data shows a rise in the expectations index, suggesting consumers are more optimistic about future income and business conditions. The report shows that compared to April, purchasing plans for homes, cars, and vacation intentions increased, with some significant gains after May 12. Plans to buy big-ticket items, including appliances and electronics, were also up.
“For recreational boating, the rebound we’re seeing for May would often be viewed as a positive signal as historically, higher consumer confidence correlates with increased spending on discretionary items like boats,” said Ellen Bradley, chief brand officer, NMMA. “However, there’s been a bit of a ‘see saw’ in consumer confidence numbers amid shifting economic conditions and policies, from inflation and interest rates to the more recent tariff announcements in April and May, which have created uncertainty for marine manufacturers as well as our boating consumers, in turn making spending plans less clear.”
The Consumer Confidence report comes as the latest NMMA data shows a 9.2% decline year-over-year across all new boat unit segments, except yacht and personal watercraft (PWC), which were up 29% and 6%, respectively. In March 2025, 20,029 new units were sold, and in March 2024, 22,067 new units were sold.
Seeing a continued rise in consumer confidence could translate into greater interest in boating activities and purchases, however, it’s important to note that while current business condition assessments improved, perceptions of job availability continued to decline for the fifth consecutive month. This indicates that while consumers feel better about the economy, concerns about employment persist and there remains a mixed picture for the broader economy and in particular, a mixed picture for recreational boat purchases, which are discretionary purchases.
