-August 21,2019-
Theme Park attendance down but spending up
Disney reported that attendance at the company’s domestic theme parks was down 3 percent in the third quarter.But “per capita spending” was up 10 percent and occupancy at on-site hotels rose two percentage points. Blame higher costs to visit the parks they say.
More hurricanes
CNN repots “In an uptick from the preseason forecast, the Atlantic hurricane season now is expected to be above normal, with 10 to 17 named storms, including five to nine hurricanes, the Climate Prediction Center of the National Oceanic and Atmospheric Administration, or NOAA, announced recently.
RV Sales slipping
Wall Street Journal reports “Elkhart, Ind., is flashing a warning sign about the economy.
Capital of the country’s recreational-vehicle industry, the northern Indiana city and the surrounding area are watched by economists and investors for early indications of waning consumer demand for luxury items, often the first sign of economic anxiety.”
Rail traffic down 4.3%
US rail traffic was down for the latest week by 4.3% says an industry report. Coal shipments fell the most, down nearly15% over the same week a year ago.
US Steel Layoffs Told
CBS reports that “U.S. Steel is temporarily cutting about 200 workers from its Michigan plant, highlighting the ongoing struggles of a company that President Donald Trump had showcased as benefiting from his administration’s steel tariffs.
The layoffs, detailed in an August 5 notice with the state of Michigan, will cover “nearly every area” at the facility, U.S. Steel said in an emailed statement Tuesday. The company already temporarily cut 48 workers at the Great Lakes plant and expects to cut more more in September, bringing the total number of layoffs to 200.
Hints of trouble at U.S. Steel have been emerging in recent months, with the Pittsburgh-based company in June announcing it would idle two furnaces, one in Michigan and one in Indiana. The company said there isn’t a “single event” prompting the layoffs. Rather, “Current market conditions are being impacted by a multitude of factors,” including price, demand, import volume, cost and projected profit margins, U.S. Steel said in the statement.”