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Report: Industry equipment manufacturers expect to end 2011 on high note
By: Kirsten Klahn//December 14, 2011//
Report: Industry equipment manufacturers expect to end 2011 on high note
By: Kirsten Klahn//December 14, 2011//
Listen to this articleConstruction equipment manufacturers anticipate overall business to close out 2011 with double-digit increases over the last year.
For 2011, overall business in the U.S. is expected to grow 18.6 percent compared to 2010. Growth will continue in 2012 through 2014 but at a slower pace, according to the business outlook survey of the Association of Equipment Manufacturers.
The AEM survey showed survey respondents believe the state of the general economy, steel prices and the slump in single-family housing starts are negative factors influencing future sales.
Respondents also said the lack of action on highway funding was negatively affecting future sales.
A key positive factor shown in the survey was the continued strength in export demand.
The construction machinery business is predicted to grow 10.8 percent in 2012, 9.9 percent in 2013 and 8.1 percent in 2014, according to the survey.
— Kirsten Klahn
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