- U.S. firearms sales fell 6.1 percent in 2018, marking the second straight year of declines and extending the “Trump slump” following the November 2016 election of pro-gun rights President Donald Trump.
The National Shooting Sports Foundation estimated 2018 sales at 13.1 million firearms, down from 14 million the previous year and down 16.5 percent from record 2016 sales of 15.7 million.
2016 saw a boom, doubling over a decade, largely due to fear that gun control laws would be enacted. Democratic President Barack Obama and Hilary Clinton favored to win the 2016 presidential elections drove many gun enthusiasts to stock up. Now with pro-gun Trump, these fears have wavered and people feel no urgency to buy guns.
California, the state with some of the strictest gun laws, saw some retailers report growing sales in part because Democratic Governor Gavin Newsom promised additional gun control measures during his campaign.
Consumer gun sales affect a $40 billion industry of manufacturers and retailers of guns, ammunition and accessories.
Gun makers American Outdoor Brand (AOBC), formerly Smith & Wesson, and Vista Outdoors (VSTO) have seen share price decline from peaks before the 2016 elections.
Article by: Francisco Cortez – Delgado
I graduated from Queen’s University with a Master’s of Political Studies. The intertwined world of politics and economics intrigue me. My favourite stories to cover are the ones that show how a few selected officials can impact nationwide macro-economic policies. I also follow the broader markets and FOREX.