U.S. Construction Machinery New Orders in 2019 were down 7.5% compared to the previous year. However, a rise in the residential construction sector could increase demand for construction machinery in the first half of 2020. U.S. Farm Machinery and Equipment Supplies were slightly lower than 2018, and declining exports could keep this sector on the back side of the business cycle through mid-year.
Europe Agriculture Machinery Production in 2019 declined 5.3% from 2018. The Europe Leading Indicator is in a rising trend which suggests Product may reach a business cycle low early in 2020.
*Editor’s note: At the time OEM Off-Highway received this data, impacts of COVID-19 on industry data was not yet known. Stay tuned for future updates.
NOTE: All data for charts supplied by ITR Economics