The general business climate for the ag equipment industry in Europe has improved for the second month in a row, according to the latest update to the CEMA Business Climate Index. The barometer rose to a reading of 23, from 12 in the previous update.
The report said the volume of equipment orders in the European ag equipment industry currently corresponds to a production period of 6.8, the highest in the history of the survey.
"Despite order books at record levels, manufacturers have been still faced with a dynamic order intake, especially in September. At the same time, price increases and bottlenecks on the supplier side continue to challenge the industry, but some slight easing is observable, so that manufacturers are increasingly able to realize their orders," the report said.
In the most recent survey, the percentage of respondents considering their current business status to be "good" or "very good" rose to 46% vs. 34% in the previous report. Some 41% of respondents expect their overall revenue to grow within the next 6 months.