RVIA Economic Impact Study

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 .

Gas Prices Surged in Holiday Season

Mon Jan 8, 2018

151542680110377.pngGas prices following the holiday season peaked at $2.49, the most expensive seen at the start of a new year since 2014 when gas prices were more than $3/gallon, according to AAA. High travel volumes over the holidays drove gas prices up five cents on the week. Motorists in the Northeast, South and the upper Midwest are seeing pump prices as much as 13 cents more expensive than last one week ago, according to a AAA press release.

“Although prices at the pump shot up over the holidays, now that the holiday season in the rearview mirror, motorists can expect gas prices to trend cheaper this month as we are likely to see a significant drop in gasoline demand,” says AAA Spokeswoman Jeanette Casselano.

The latest Energy Information Administration (EIA) report shows gas demand at a strong 9.5 million barrels per days, which is typical of the holiday season the release states. However, demand in early January demand typical drops and stays below the 9 million mark for the first few months of the year.

On the final day of trading for 2017, West Texas Intermediate Crude Oil closed 58 cents up, reaching its $60, the highest price of the year. Orices are expected to continue rising in 2018 as OPEC’s production reduction agreement will remain in place for the entirety of the year.

However increasing oil prices have also led to increased investment in production and drilling. The United States reached its highest crude production level — 9.637 million barrels per days in October — since 1971. U.S. crude production is expected to hit 10 million barrels per days for the first time ever this year, helping the country to meet domestic demand and expand exports.

The total number of active rigs, 747, is 222 more than the total active number of rigs at the beginning of 2017. No active oil rigs were added last week, according to Baker Hughes, Inc.