Slower growth

25 April 2008

Worldwide construction equipment sales are expected to show double digit growth in 2006 but these gains are not forecast to continue into 2007, according to US-based construction equipment manufacturers.

The Association of Equipment Manufacturers’ (AEM) latest Annual Business Forecast, predicts that the construction equipment market will grow +11.2% this year before falling to more modest growth of +3.9% in 2007.

The results of survey suggests that construction equipment sales in Canada will show increases of+12.7% in 2006, while volumes in the rest of the world are expected to grow +10.9%. However, machine sales in Canada next year are likely to fall to +5.0% and sales outside North America are predicted to drop to +6.4%.

“Although the US economy is starting to show signs of slowing down, it has displayed surprising resilience,” said AEM chairman Garry Shaheen. “The affect of the slowdown in the US housing market on construction equipment sales has been offset by the strength of non-residential construction, road building and sales outside the US.

“We are cautiously optimistic that sales will continue to grow in 2007 but at a more modest pace than in 2006. But to put this in perspective, sales in 2004 and 2005 were among the highest in recent years for the US construction machinery manufacturing industry.”

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