Farm machinery industry to return to growth in 2017?
The business mood in Europe’s farm machinery industry is cautiously brightening up again – as less companies are affected by turnover and order intake declines.
The short-term outlook has improved for almost every single European market. The level of confidence is currently strongest for Spain and the UK, but also for the CIS region.
In terms of expected turnover, France has fallen to the bottom of the ranking. Turnover and order intake remain weak in Germany and Poland. The survey shows that confidence has risen for the Polish market. However, still, 40% of the companies are expecting a further drop of this market.
In Italy, a narrow majority of survey participants now expects a turnover increase for the next 6 months. Nonetheless, the mood among Italian manufacturers has fallen due to lower perspectives for their export markets.
On the international market, the highest growth potential for 2017 is seen in Oceania. Interestingly, the European industry also expects mostly growth in the US and Canada, while the outlook for the home market Europe continues to be considered worse than for all other world regions.
All in all, on average, the European industry forecasts for its total turnover in 2017 a slight increase (47% of the companies expect growth, 30% a further decline).