THINGS CAN’T BE TOO BAD IF DAD MAKES ‘SUNDAY TEE TIME’
Today, we check in on the economy with one of our favorite gauges…
Regular DailyWealth readers know we like to follow certain sectors for insight into the strength of the economy.
Tracking recreational spending can tell us if consumer confidence is high – like when luxury sport companies are raking in profits…
For example, look at Callaway Golf (ELY).
The $1.6 billion company is the largest manufacturer of golf clubs in the world…
And it’s the No. 1 club brand in the U.S.
Following the 2008 recession, participation in the golf industry dropped off.
But things have turned around in today’s bull market. Callaway’s net sales increased 20% in 2017. And its outlook for this year is positive as the industry continues to strengthen.
As you can see, shares of ELY have risen nearly 50% over the past year. They recently hit a new multiyear high. The company’s climb is a reassuring sign for the economy. After all, if dad has the cash for golf clubs and green fees, things can’t be all that bad today…
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Source: Daily Wealth Market Notes
