Agricultural machinery, CEMA: a drop in demand is expected by European manufacturers

According to the Committee of European Manufacturers-Cema, the confidence of agricultural machinery manufacturers is falling, to its lowest since the two-year period 2020-2021. The Business Barometer, the monthly survey conducted by CEMA amongst its associates, highlights for the month of June a worsening of the future expectations. If before the problems related to procurement and logistics weighed on the sentiment of companies, now the worries are due to a drop in demand for agricultural machinery. The data on tractor registrations in Europe seem to confirm what was highlighted by the Business Barometer, indicating an overall decrease of 1.8% in the first three months of the year, with 51,553 vehicles registered. In detail, among the reference countries, France (-8%), Italy (-7.2%), Poland (-4.2%) and Spain (-24.2%) closed the first quarter with a negative result. On the other hand, Germany (+3.9) and Great Britain (+9.8) are positive.