Declines Likely to Continue for Most Global Equipment Markets

Annual U.S. Construction Machinery New Orders were down 11.2% in March compared to the year-ago level; declines are due in part to disruptions in construction markets and ongoing recession in the industrial sector. U.S. Farm Machinery and Equipment Supplies were up 0.4% from 1 year ago, though labor disruptions and business closures due to COVID-19 are decreasing demand for equipment.

Quarterly Germany Industrial Production was down 6.4% in March with further declines anticipated. Annual Europe Agriculture Machinery Production was also down 6.5% in March, and annual Production is forecast to decline through the second half of the year.    

READ MORE: Manufacturers Report First Quarter 2020 Negatively Impacted by COVID-19

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NOTE: All data for charts supplied by ITR Economics