ELKHART, Ind. (AP) — Economists have warned that the decline in recreational vehicle shipments from northern Indiana, calling itself "RV Capital of the World," implies an impending recession.  More than 80% of recreational vehicles sold in the United States are made in Indiana, and approximately 65% of these come from Elkhart County, according to data from the Automobile Industry Association
. down 20.3% so far this year, the Indianapolis star said. Companies like Elkhart-based Thor Industries Inc. reduced production and shortened the work week to slow production.
Ball State University economist Michael Hicks says consumers don't buy RVs and other big-ticket goods when money is low, so economists see the decline in the RV sector and the slowdown in car sales as signals of a contracting economy in USA.
Total US car sales fell 1
Also addresses international trade disruptions due to tariffs imposed on key markets such as China , Mexico and Canada.
"There is an inconspicuous tariff map and commercial dispute that is being thrown into the mix, and it is difficult to test how much of an impact these are having at the moment," says Kevin Broome, spokesman for the Fisheries Industry Association. .
The association estimates that shipments for the year will decline by about 14% at the end of 2019.RV ship. Since 1981, mints have fallen for five periods, but only three of those periods are followed by recessions. .
Ten in the Elkhart County Wheel Wheel Industry The county's unemployment rate rose to 3% in June from 2.8% a year earlier, and while this is below the national average and the national average, average hours worked in the county, Hicks said
But this is a big turn from the time when the unemployment rate in Elhart County reached nearly 19 percent in early 2009, when the recession
Chris Stagger, President and CEO of Elkhart County Economic Development Corporation , said he had heard anecdotal stories about manufacturers and RV, implementing longer periods of "quiet schedule."
However, he prefers optimism.
"(RV supplies) are in many cases historically indicative of some trends in the national economy," Stagger said. "But I prefer to remain positive about the national situation and how it can play out here."