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The Recreation Vehicle Industry Association reports that for the 18th consecutive month, RV wholesale shipments in November were greater than the corresponding month, one year earlier. November's total of 19,500 units were 25% more than this same month last year, raising the year-to-date total to 273,700 units and making 1998 the best year since 1978. Seasonally adjusted, shipments of towables and motorhomes in November surged to 316,000 units (annualized), the highest figure all year. The Index of Consumer Sentiment rebounded in the November survey rising to 102.7, up from 97.4 in the October survey, according to the University of Michigan's Survey Research Center. Reversing a six month decline, recent interest rate cuts appear largely responsible for the November reversal. Speaking at the Louisville National RV Show Outlook Forum, noted economist Todd Buchholz cited several factors which will allow the U.S. economy to continue its seven year expansion. "Strong consumer confidence, continued low interest rates and the Fed's responsiveness are good signs for the nation and the RV industry that the economy will continue to grow." Retail sales reports offered another sign of confidence as final sales rose for all vehicle categories measured in November. Sales of type "C" motorhomes passed the "115" mark in November (meaning sales were 15% greater this month than this same month one year ago) signaling a resurgence in this product. Towable RVs Wholesale deliveries of all towable RVs were reported at 14,900 units in November, up an impressive 30.7% over this same month last year. Year-to-date deliveries of all towables have risen to 215,100 units through the first eleven months of this year, already making 1998 the best year for towables since 1978. Deliveries to retailers of all conventional travel trailers continued its upward movement, posting a gain of 63.2% for the month and up 24.7% year to date. Folding camping trailers continued this steady march forward gaining 10.8% for the month to 4,100 units and year-to-date total of 59,600 units, up 10.6% over this same period last year. Motorhomes November was very good for type C shipments as they rose 50% over November last year to 1,200 units. Conventional, type A motorhomes have done well and while type B van campers have struggled, all motorhome shipments are up 15.4%, year to date. Conversion Vehicles November brought more good news for the beleaguered conversion vehicle segment as shipments rose 4.5% from last month and were up 3.4% from this same month last year. While shipment totals for the year will again fall short of the previous yearly total, recent positive signs that the market may have bottomed allow for optimism that gains will follow next year.
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