2023 Canadian economic indicators the focus of new NMMA report
NMMA’s 2023 Canadian Economic Factoids report is now available as a part of the 2023 Canadian Recreational Boating Statistical Abstract. This in-depth report looks at Canadian economic indicators from 2008-2023 and identifies trends impacting the retail markets.
In 2023, Canada’s economy demonstrated key signs of resiliency amid ongoing recovery from the COVID-19 pandemic. Real GDP grew by 1.1%, a slower pace compared to the 3.8% increase in 2022. Disposable income rose 5.5%, indicating strong economic stability. Consumer confidence fell to 68.4 points, the lowest level since 2009. In the recreational sector, the number of pleasure craft operator cards issued increased by 9.7% to nearly 159,000 in 2023, with significant growth in the Manitoba and Saskatchewan provinces.
Overall, 2023 economic indicators showed a period of cautious recovery among households while businesses navigated ongoing economic challenges amid signs of resiliency in certain sectors.
NMMA members receive unlimited complimentary access to the digital version of the annual Canadian Recreational Boating Statistical Abstract. Non-members can purchase the Canadian Recreational Boating Statistical Abstract‘s Economic Factoids Report for $499.