The general business climate index for the European agricultural machinery industry has improved, despite remaining in negative territory. This follows the sharp declines recorded in recent months, which had pushed the sector back into recession after just over a year. The index rose from -19 to -14 points on a scale from -100 to +100.
The recent downturn was driven by a marked deterioration in both the assessment of current business and turnover expectations. The improvement in July is due entirely to renewed confidence regarding the next six months, while current business remains weak.
With a view to the European market, Scandinavia, the UK and Ireland lead the confidence ranking, whereas negative expectations for major markets such as Poland and France have been confirmed once again.
