The general business climate index for the agricultural machinery industry in Europe continued its tendency to remain in the negative zone in October, showing little change compared to September, following the sharp declines in previous months. In October, the index decreased from -31 points to -32 points (from -100 to +100).
The Business Barometer Survey organized by CEMA confirms once again that dealers are unable to liquidate their large amounts of stocks and that they are shifting from insufficient supply to record oversupply. According to the survey, dealer inventories in most European markets are even higher than in 2019 (which made history due to record stock levels).
Accordingly, there is not a single European market in which the majority of survey participants would have positive turnover expectations. The strongest declines are expected in the Central and Eastern European markets. France is ahead of Germany in the market rankings.
Only 20 percent of respondents rate their work going well, while nearly 60 percent expect their turnover to fall in the next six months.