The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Dec 29, 2016
ELKHART, Indiana - Anyone despairing about the possibility of an economic slowdown may want to visit this county of 200,000 in northern Indiana for a boost.
Elkhart County is the capital of the recreational-vehicle industry, with 65 percent of all RVs made in the county, according to the Recreational Vehicle Industry Association. And right now, the recreational vehicle industry is doing very, very well, according to a story from The Atlantic.
“We’re going gangbusters,” Wes Bogan, marketing director of Thor Motor Coach says.
The RV industry predicts that 2017 will be a banner year, with manufacturers shipping a record 438,000 units, up 4.4 percent from 2016.
This is good news not just for the thousands of people employed in the RV and related industries in Indiana. Usually, economists look at some fairly standard indicators to assess the economy’s health: new claims for unemployment insurance filed by the recently jobless, consumer confidence surveys, and the consumer confidence index, which measures how Americans feel about the economy.
But RV sales turn out to be a pretty good predictor too: When RV sales are doing well, the economy follows; when RV sales tank, the economy is soon to tank too.
Additional Information: https://www.theatlantic.com/business/archive/2016/12/rv-indicator/511787/