Annual U.S. Farm Machinery and Equipment Shipments were down 2.0% in January. However, shipments are rising and increasing commodity prices indicate business cycle rise in the coming quarters. Europe Agricultural and Forestry Machinery Production was also down in January. General recovery in Europe and abroad is expected to boost production in 2021.
Construction machinery new orders are rising, but currently remain below the year-ago level. The quarterly trend is showing robust recovery, and there are indications firms will be able to spend on new equipment which may boost new orders this year.
NOTE: All data for charts supplied by ITR Economics