Manufacturers have a more bullish outlook on the economy than some other sectors of the industry. This is reinforced by the just-released construction equipment "business outlook" survey of the Association of Equipment Manufacturers (AEM). The survey indicates:
- Construction machinery manufacturers predict overall business in the United States to close out 2010 with 6.4-percent growth, then gain 12.7 percent in 2011 and 14.8 percent in 2012, followed by 2013 growth of 13.0 percent.
- Canadian business overall is expected to be 8.2 percent higher in 2010 than the previous year, and record gains of 12.0 percent in 2011, 14.8 percent in 2012 and 12.7 percent in 2013.
- Industry business to the rest of the world is anticipated to be strongest in 2010 - up by 14.7 percent – and then grow 11.8 percent in 2011, 12.5 percent in 2012 and 11.2 percent in 2013.
"While this rebound is welcome, you have to remember our industry was down 30 to 50 percent in the recession, so there is a long way to go. Although business is improving, it will take years to recover the sales losses of 2008-2009," said AEM President Dennis Slater. "This hopeful outlook will be difficult to achieve without action now on transportation infrastructure legislation and export-promotion policies. Infrastructure investment and export agreements are proven ways to create and maintain jobs for U.S. workers, for a sustainable recovery and meaningful uptick in equipment demand," Slater said.