Ag equipment sector improving


Ag equipment sector improving

The Association of Equipment Manufacturers says the recent solid gains in tractor and combine sales and other large ag equipment are signs of an improving economy. Bob Crain, manager of AEM North America and director of ag machinery maker AGCO, says Purdue University’s recent Ag Economy Barometer is another sign.

“Positively, it shows growing optimism among our nation’s farmers who are at their highest level of sentiment for making significant large investments since 2015.” 

Crain says the Institute of Supply Management shows U.S. manufacturing expanded in the past month at the fastest pace in more than two years.

And he says along with the national farming fleet as old as it’s ever been and ready for replacement.

“It (all) suggests a positive manufacturing performance, certainly for ag, in the coming months.”

Thirty-percent of U.S. ag equipment is exported overseas.

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