Construction machinery industry still idling

The construction machinery manufacturing industry continued to show a slowing rate of economic growth, according to the latest shipments data released by the Association of Equipment Manufacturers (AEM).

In the AEM quarterly Construction Equipment Shipments Index for year-end 2001, seasonally adjusted business volume was down 4.2 points compared with the previous quarter, and recorded a decline of 26.9 points compared with the previous year. The index uses a 12-month rolling average, based on an index of 100, to give a more consistent picture of this seasonal industry. The December 2001 index is at it lowest point since March 1999.