Article

The Conference Board’s latest Consumer Confidence Index fell to 100.4 in June, down from a revised 101.3 in May. The Expectations Index, which reflects consumers’ six-month outlook on income, business and labor market conditions, dropped more steeply—from 74.9 to 73.0, remaining below the 80 threshold often associated with a weakening economy.

Consumer assessments of current conditions also dipped. The Present Situation Index declined from 140.8 in May to 141.5 in June, reflecting a slightly less favorable view of business conditions and job availability. Notably, the share of consumers saying jobs are “plentiful” decreased for the third consecutive month, while more reported jobs as “hard to get.”

“For marine manufacturers and retailers, the latest consumer confidence data underscores the importance of closely monitoring market trends and any shifts on consumer behavior relative to our marketing and sales strategies, remaining as nimble as ever,” said Ellen Bradley, NMMA’s Chief Brand Officer. “Historically, lower consumer confidence, particularly when expectations dip, has been linked to slower spending on durable goods and leisure purchases. As summer progresses, NMMA is watching closely how sentiment translates into sales and encourages members to capitalize on our recently launched monthly Industry Data Summary and quarterly Marine Leadership Barometer reports."

While the labor market remains relatively strong, growing economic uncertainty and inflationary pressures may temper consumer enthusiasm, particularly for high-value discretionary items. NMMA continues to advocate for policy stability and conditions that support consumer confidence, increased American manufacturer certainty, and long-term industry growth.

For more economic updates and industry-specific insights, visit nmma.org/statistics or contact the NMMA Business Intelligence team [email protected].