According to a report from the European Agricultural Machinery Assn., the general Business Climate Index for the Agricultural Machinery Industry in Europe has risen to a clear boom level after having reached the positive range in October for the first time since mid-2019. In February 2021, the index is at +51 points (on a scale of –100 to +100).
Very high levels of turnover have already been secured for the coming months. The volume of orders corresponds currently to a production period of 4 months, which is the highest February value ever recorded within this survey. Other than during previous upswing periods (e.g. in 2010 or 2017), the current business improvements do not lag behind improved future expectations, but almost the other way around. It rather appears that the industry is continuously adjusting its future expectations to a surprisingly well-performing current business and to an ever-increasing order intake from month to month.
Also with view to the market side in Europe, the industry representatives have further raised their expectations for most countries. The regional breakdown shows meanwhile for each single European market a majority of survey participants expecting turnover increases in the next 6 months. The best rating is achieved for France, followed by Austria and Poland.