Construction and Agricultural Equipment Shipments Rising in U.S. and Europe

While U.S. Construction Machinery New Orders through February were even with 1 year ago, the quarterly New Orders trend was up 16.9% due to strength in the single-family housing market. Meanwhile, quarterly U.S. Exports of Farm Machinery was up from 1 year ago, indicating rising shipments in the coming quarters.

In Europe, Agricultural and Forestry Machinery Production was rising in February although down 2.2% from 1 year ago. Rising Soybean Futures Prices are expected to drive a further increase in production in at least the near term.

READ MORE: Increased Equipment Demand Leads to Positive First Quarter 2021

View the corresponding Equipment Market Outlook charts for more data

NOTE: All data for charts supplied by ITR Economics