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Golf Emerges from the Deep Rough

Golf Emerges from the Deep Rough

Golf IndustryGolf is seeing an economic resurgence these days, after the downfall brought about by the recession in the United States. The country’s general economic recovery is resulting in the comeback of golf’s consumer market, which amounts to $25 billion.

This statement is not based on plain opinion. Economic figures prove that the golf industry has emerged from its slump. For the past four months, the number of rounds played on different American golf courses has increased. Prior to that, the number had been declining due to the economic recession.

Companies that make and sell golf clubs, mowers, and golf gear have reported increases in profits and stock gains. They have even outpaced Standard and Poor’s 500 Index.

The National Golf Foundation reported that around $4 billion is spent by consumers annually for golf equipment alone, plus another $1 billion for golf gear and clothes. Twenty billion dollars is spent on golf course maintenance.

Stock values for this year are also up by 25%. This figure is more than double that of S&P’s 500 performance.

The conclusion is that Americans are more confident about spending money nowadays. They are more secure in their jobs and they have an increased budget for leisure. Golfers seem to believe that things are not getting any worse when it comes to the economy.

“We were bouncing along the bottom and expect we’ll see a modest recovery in 2012. The signs since the beginning of the year have been positive.” said Greg Nathan, senior vice president of the National Golf Foundation.

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