Farm machinery sales face some obstacles but outlook remains strong

 

The latest outlook from the Association of Equipment Manufacturers says the agriculture and construction equipment industries faces some obstacles in the months ahead.

The latest outlook says the global economy expanded a robust 5.1 percent last year.

This year’s growth is expected at 3.3 percent, due to the lingering effects of the pandemic, supply chain issues and persistent labour shortages.

There’s also concern about inflation and global trade.

The association says the price of farm machinery has risen 11.7 percent.

Some suggestions to resolve labor concerns include internship, higher wages, flexible hours and recruitment efforts.

But the outlook for the agriculture equipment remain strong due in part to rising farm income.

 

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