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 to the previous quarter and recorded a decline of 26.9 points compared to 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 its lowest point since March 1999.
"Our membership polls of industry conditions show that while these are still very challenging times for equipment manufacturers, there is a growing feeling that we have about reached bottom and will start to see some improvement later in the year," noted AEM Co-President Emmett Barker.
"The ICUEE show in September 2001 was successful and we anticipate that ConExpo-Con/Agg in March, which already is a record breaker for exhibit space reserved, also will be well-attended. So the industry optimism is there for a turnaround," added AEM Co-President Dennis Slater.
