What's more American than a retiree taking to the road in their recreational vehicle?
In today's recommended read, my colleague Timothy Aeppel writes that the RV industry can often signal the direction of the nation's economy. Inflation-adjusted consumer outlays on recreational goods and vehicles fell in April for a fifth straight month, according to Commerce Department data. This was the longest slump in real spending on the category since the height of the Great Recession in 2008.
Among the people he spoke to were Coley Brady, who owns five recreational vehicle factories in Indiana. Brady cut production after it became apparent spring sales were fizzling.
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