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ASSN OF EQUIPMENT MFGRS REPORTS MEMBERS ARE OPTIMISTIC ABOUT CONSTRUCTION AND AG SALES IN 2022
Dec. 8, 2021
National Association of Farm Broadcasting (NAFB) reports:
While the U.S. and global economies have continued to grow, the pace has slowed over the second half of 2021.
But in the construction and agriculture equipment industries, stronger-than-expected growth this year has many manufacturers feeling optimistic about 2022.
According to results from AEM's fall member survey, more than 80 percent of AEM members anticipate rising demand for construction and agriculture equipment over the next year.
Roughly 65 percent think demand for ag equipment will be above normal, while 44 percent think demand for construction equipment will be above normal.
Manufacturers face some headwinds, though, including labor, supply chain issues and widespread inflation.
However, roughly 58 percent in the construction segment and 44 percent in the agriculture segment think the global economy will recover within the next year.
Farmers have been taking advantage of their good financial position to invest in new equipment. In 2022, AEM members feel that most key ag equipment categories will see growth similar to this year.
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