AEM issues the Ag and Construction Equipment Market Outlook

While the global economy remains on track for expansion, several challenges are likely ahead and will serve as obstacles for the agriculture and construction equipment manufacturing industries. 

The latest data from the Association of Equipment Manufacturers says the global economy expanded by a robust 5.1 percent in 2021. 

While 2022 growth is projected at 3.9 percent, slower growth seems like a foregone conclusion. 

Short-term issues like ongoing supply chain problems and persistent labor shortages, as well as long-term factors like inflation have emerged to cut down on the enthusiasm of what’s been a strong worldwide economic resurgence. 

In a statement, AEM says, “this economic disruption has impacted all of us a great deal, and we’re still dealing with the aftereffects today, including labor shortages, supply chain problems, and higher interest rates.” 

Even with the questions ahead, AEM says the stock market is still up 30 percent from two years ago.

(Story Courtesy of the NAFB News Service)