The general Business Climate Index for the Agricultural Machinery Industry in Europe has improved again and is now exceeding (low) pre-COVID-19 levels. Now, in September 2020, the index is at -1 points (on a scale of -100 to +100).

While the improvement in the first months after the COVID-19 shock was mainly due to less negative future expectations, the evaluation of the current business climate has improved significantly as of July. The index on the current business climate has further increased and is again outperforming the expectations for the coming 6 months. Meanwhile, the survey participants do not expect any significant decline for the total year of 2020, but an overall flat trend (median: +0%, mean: –1%) - and a further recovery in 2021 (median: +3%, mean: +3%).

On the European market side, the expectations have continued to further improve for several countries. Top growth markets within Europe are considered Poland, Italy, Austria, Switzerland and Scandinavia. Low confidence levels remain, on the other hand, for the UK and Romania. However, at least in the case of Romania, it might only be a matter of time for this market to catch up. Together with Poland and the Commonwealth of Independent States (CIS) countries, Romania is currently assessed as the country with the highest investment need.