Economists Says: RV Industry Becomes US Barometer

The advancement shown by the American RV industry has become an inspiring sign for the entire US economy. In the past two months, RV sales have doubled compared with the same period of last year. Economists said that this is a precursor to economic recovery.

Grant Black, an economist at Indiana University, said the RV industry is a barometer of the U.S. economy. "History shows that the RV industry is the best indicator of the country's overall economic development, and the RV industry will drive economic development."

The RV industry began to experience a landslide in 2007, and the entire country’s economy subsequently fell. In the past few months, sales data show that the RV industry has regained its vitality. Black said that if history repeats itself, it will be a sign of economic recovery. He said that changes in the U.S. economy following the changes in the RV industry will usually show up within six months.

"I don't mean that we are going to hold celebrations. I mean, the situation is much better than we had imagined before," said Sid Johnson, Jayco's Director of RV Marketing. He also stated that two years ago, the company had to close several production lines in the depressed economy, canceled the planned project and dismissed the staff, but the current situation is very different. “There is a great demand in the market and the overall situation indicates that the RV makers will soon face a long absence in the spring.” But he said that this is not to say that they have emerged from the crisis and are only moving in a good direction.

Johnson said they will resume production in Topeka, Indiana, which was closed in 2008, while recalling hundreds of workers who were dismissed.