AEM Members Optimistic About Continued Economy Recovery

Agriculture and construction manufacturers are upbeat about continuing economic recovery. A second-quarter 2021-member survey done by the Association of Equipment Manufacturers showed optimism remains as strong as it did in the first quarter survey.

“Member perception showed a bit more stability in some spots and perhaps a slight decline in other areas of our industries, but overall, they showed great progress,” said Benjamin Duyck, AEM director of market intelligence.

Ag equipment manufacturers aren’t concerned about the recovery being thrown off track. Roughly 76% of the Q2 survey respondents reported growth compared to the previous quarter. An even-stronger 87% reported growth compared to the previous year. Looking ahead, 90% think that growth will continue during the next 12 months. While most AEM members think growth will continue, the general consensus is that the rate of growth will slow a bit.

Looking at the total of all ag equipment categories, 6%-10% growth is expected over the next 12 months, against 11%-15% growth experienced over the past year. Among the individual ag equipment categories, trailers and transportation equipment grew more than 20% over the past year, while 16%-20% had been predicted before that.

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