The CEMA European Agricultural Machinery Association’s May Business Barometer recorded a business climate index of 11 points in the agricultural machinery industry in Europe, down from 16 in May.
In recent months, fill rates of the orders point to one of the fastest increases in the history of the survey, with an average of 5.5 months. First and foremost, lead times reached above averages in historical comparisons, and due to the high backlogged ratio, order fulfillment was significantly lower than at any other time of the last year.
The in-depth analysis of the study signalizes relief on the supply side while uncertainties in the markets increase and accordingly, confidence levels decrease in some markets. However, the responses to the survey show a downward trend for future expectations. Despite some European industrialists predicting growth in France and Germany, confidence in Italy, Spain, and Poland drastically dropped.
