Headwinds will Persist for U.S. Agricultural Equipment Exports
U.S. Construction Machinery New Orders declined 3.9% through October 2019, though a rise in quarterly U.S. Housing Unit Building Permits suggests a potential recovery in New Orders. U.S. Exports of Farm Machinery and Equipment were down 12.2% through October 2019 compared to the previous year. Headwinds in this market are expected to persist through mid-2020.
Europe Agricultural and Forestry Machinery Production were down as well; however, a rise in exports of agricultural goods during the third quarter means there could be a rise in demand for agricultural and forestry machinery in the first half of 2020. Read more >>