EU’s Business Index on Farm Equipment Surges to an All-Time High Since 2008!
- Published Date
After hitting a record in April, the Business Climate Index has broken another record in May. The Index for the Industry in Europe has risen sharply to its highest level since 2008 after having reached the positive range in October for the first time since mid-2019.The Index soar to +72 points from +65.
Survey results show that turnover expectations have already been secured for the coming months, based on higher volumes from accumulated incoming orders. According to the latest data, it is stated that the order volume covers 4.4 monthly production, which is the highest value recorded so far. On the other hand, the biggest difference that separates the current tendency in the EU markets from other upward trends is that the improvement in the business index is above the short-term expectations. The responses to the survey indicate that expectations in the industry have improved especially due to the growth performance of the market index for current business activities and increase in orders.
Moreover, turnover expectations in many EU states continue to improve. Austria and Italy stand out among the participants expecting a turnover increase in the next six months across the EU market. Benelux and Romania are low-ranking countries with comparatively lower confidence levels, even though turnover expectations reached up to a certain extent.
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