The $40-billion boat industry is struggling to keep afloat amid the slowing US economy. In fact, some companies that manufacture sail boats and power boats have already closed shops. This is saddening and a great cause of concern.
Manufacturing.net reports that a poor consumer confidence, spiraling gas prices and the national economic downturn is testing the limits of the boating industry. “It’s a challenging time,” admitted Bill McGill, chairman and president of Clearwater, Florida-based MarineMax, Inc. The big boat and yacht retailer made some downsizing efforts that removed 10 percent of its work force because of poor profit.
Definitely, more and more industry are starting to feel the economic downturn. I think it is safe to assume that if the US economy worsens in the coming months, more companies will decide to lie low and worker lay offs will hit more headlines.
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