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NY – INDUSTRY INSIDER – Remington plant lays off 120 as gun makers report declining sales

Gun control: Remington plant lays off 120 as gun makers report declining sales Remington has announced layoffs at its New York plant as many gun companies reported struggling sales. The number of FBI background checks, considered a measure of firearm purchases, has dropped under the Trump administration. Beginning in December – the month after Republican Donald Trump was elected president – the FBI has monthly gun background checks that were lower than the previous year, breaking a 19-month streak of monthly increases. In January and February, the FBI processed 17 percent fewer checks that in those months in 2016. Yet January and February 2017 checks still outpace January and February background checks in 2015. While FBI says the number of gun background checks it conducts for arms sellers cannot be considered “a one-to-one correlation” with firearm purchases, the bureau‘s statistics are used as a proxy gauge for gun sales.

Financial analysts of the arms industry say the nationwide Republican wave in the November election, led by Donald Trump‘s candidacy, has slowed gun sales that were inflated during the Obama years, when firearm sellers could use the Democratic president as a regulatory bogeyman to boost sales. [full article]

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