Construction machinery manufacturers predict smaller gains in overall industry business in 2007 after expected double-digit growth in 2006, according to the annual forecast conducted by the Association of Equipment Manufacturers (AEM). Growth is expected for United States, Canadian, and worldwide markets, with the strongest 2007 gains anticipated in global markets.
Machinery manufacturers participating in the annual AEM outlook survey expect overall construction equipment business in the United States to close out 2006 with increases of 11.2 percent compared with the previous year, and that business volume to Canada will gain 12.7 percent by year-end 2006. Sales to other worldwide markets for 2006 are anticipated to grow 10.9 percent.
Looking to 2007, survey participants forecast increases of 3.9 percent for the United States and expect business volume to Canada to increase by 5.0 percent. They anticipate growth of 6.4 percent in other worldwide markets in 2007.
Access www.aem.org to view the complete report.