Construction equipment manufacturing industry predicted to continue growing

The construction machinery manufacturing industry is anticipated to close out 2004 with robust business growth, followed by continued but more moderate gains in 2005, according to the annual “outlook” forecast of the Association of Equipment Manufacturers (AEM). Gains are expected to be strongest for United States markets, both in 2004 and 2005.

Manufacturers participating in the latest AEM outlook survey expect construction equipment markets to close out 2004 with double-digit gains in the United States (16.1%) and Canada (14.3%) and an increase of 8.8% in other worldwide business.

For 2005, market growth is predicted to continue but at a slower pace: an 8.4% increase in the United States, a gain of 6.6% for Canada, and a 7.0% jump in other worldwide markets.

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