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The Conference Board's Consumer Confidence Index February reading offered a mixed but instructive snapshot of the American consumer. The overall index edged up 2.2 points to 91.2, a modest improvement from January's revised 89.0, but the details matter more than the headline, particularly for discretionary sectors such as boating.

The Present Situation Index fell 1.8 points to 120, indicating consumers feel slightly worse about current conditions than in January. The Expectations Index rose to 72. While directionally welcome, it remains below 80 for the 13th consecutive month, a level economists often associate with recession risk. Consumers continue to feel uneasy about the direction of the economy over the next six months, and that uncertainty can temper willingness to spend on discretionary purchases.

One encouraging signal in the February report was a shift in big-ticket purchase intentions. The share of consumers planning to make a major purchase in the next six months rose, with more respondents saying yes or maybe and fewer saying no outright. Auto buying plans continued to trend higher on a six-month moving average basis, though consumers stay oriented toward used vehicles rather than new, reflecting persistent affordability constraints.

The data suggests consumers have not abandoned large purchases but are being more deliberate about where and how they commit, gravitating toward value-oriented options and selectively upgrading rather than broadly expanding spending.

Inflation psychology headwinds endure as expectations are still elevated, and consumers expect interest rates to stay higher for longer over the next year. That dynamic likely dampens the appetite for financed purchases. Buyers will likely continue to approach large discretionary commitments with caution.

For the boating industry, the February consumer confidence data describes an environment that continues to be pressured but may be stabilizing at the margin. Demand appears cautious rather than collapsing, with buyers selective, price sensitive, and financing aware.

NMMA will continue tracking consumer sentiment and its impact on the industry. Members are encouraged to leverage tools such as the Monthly Industry Data Summary and Marine Leadership Barometer to support planning and navigate evolving market dynamics.

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

This analysis was prepared by NMMA and Dr. Shawn DuBravac on behalf of NMMA.