The willingness to purchase agricultural machinery in the United States continues to hover at a hist-Machinery / Industrial Parts & Tools-Hmeonline: Leading B2B Source & Platform Since 2005

The willingness to purchase agricultural machinery in the United States continues to hover at a hist

2022-07-15

Recently, Purdue University and the Chicago Mercantile Exchange Group released the June Agricultural Economic Barometer Index. The results showed that the U.S. Agricultural Capital Investment Index continued to remain at a record low in June.

The Agricultural Economic Barometer data this month dropped to 97 from 99 in May, close to the lowest value at the start of the outbreak.

The June agricultural capital investment index released in the same period was 35, which was the same as last month and remained at a record low. Producers still believe that this is not a good time to expand investment in farm operations, and supply chain issues are one of the main contributing factors. After the May survey, this is the second month in a row that half of the respondents said that the tight inventory of agricultural machinery has affected their purchasing plans.

Only 8% of the respondents said that they would increase their purchase plans for agricultural machinery in 2023; another 57% said they would reduce their purchase plans.

DISCLAIMER: All information provided by HMEonline is for reference only. None of these views represents the position of HMEonline, and HMEonline makes no guarantee or commitment to it. If you find any works that infringe your intellectual property rights in the article, please contact us and we will modify or delete them in time.