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Tuesday 3 January 2023

The Daily Money: A slump in RV sales may be a warning sign for a recession

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A decline in recreational vehicle sales has long been considered an early warning sign of a broader economic downturn. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Tuesday, January 3

Happy Tuesday, Daily Money readers. It's Bailey Schulz here to help you kick off the new year with the day's top news.

Travelers across the U.S. faced a myriad of challenges during this year's holiday season, including an arctic blast and airline issues. If you did manage to make it to your destination, hopefully the visit itself was safe.

Data from the Consumer Product Safety Commission shows that each year between Christmas and Dec. 31, more than 6,000 people on average end up in emergency rooms because of holiday products or activities.  

Fireworks caused the biggest increase in injuries from Christmas to New Year's Eve, while hoverboards and powered skateboards and scooters – popular gifts for children – were responsible for 12 daily injuries on average from Dec. 24 to Dec. 31.

Bad news for the economy: RV sales are down 

The latest sign of an impending recession? A slump in RV sales.

A decline in recreational vehicle sales has long been considered an early warning sign of a broader economic downturn. The theory is that because an RV is such a discretionary, big-ticket purchase, it reflects a shift in the mood of American consumers before other types of spending.

In November, RV shipments from manufacturers to dealers dropped 50.4% from the same period a year earlier, according to the RV Industry Association. It was the second-weakest of any month since 2016.

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🚨 Recall alert ðŸš¨

Over 160,000 vehicles are facing recalls in the latest roundup.

Mercedes-Benz is recalling at least 123,696 2001-11 C-Class, CLK, E-Class and CLS vehicles because the glass sunroof panel may not be properly secured, while Volkswagen is recalling at least 37,558 2015-2016 Beetle and Beetle Convertibles vehicles because of issues with the driver's side air bag inflator.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

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