The overall U.S. economy may still be in a funk, but wealthy Americans – the golf industry’s best customers – are spending money again, particularly on high-priced extravagances such as luxury automobiles, Harley-Davidson motorcycles and recreational and all-terrain vehicles.
“If you have a home and a stock portfolio, things are looking better,” an investment analyst told the Wall Street Journal.
Citing U.S. Labor Department figures, the newspaper reports that the average American household spent $51,442 last year, an amount that surpasses the pre-recession peak.
“I think people feel a little more secure,” said Winnebago’s sales manager.
“The nerds and geeks are making tons of money,” said an economist at a Boston-based research firm.
“We feel good about the fourth quarter,” said Whirlpool’s CEO.
Although reading such tea leaves is risky business, with each passing day the evidence mounts: The foundation for a rebound in the golf business is being laid.