Industry News

U.S. Economy / Markets

Four unexpected economic bright spots
FORTUNE -- Good economic news has been hard to come by lately, but not all is doom and gloom in America these days. The end of summer ushered in a few signs of progress in some of the unlikeliest corners of the economy. They are no guarantee that the good times are around the corner, but they do provide a helpful reminder that this slow recovery is exactly that: a recovery.

U.S. recovery seen as on track, but will slow
The recovery in the U.S. economy has been stronger than expected, although growth is expected to slow over the next few years, according to the International Monetary Fund.

Unemployment Drops In 37 States
A majority of states saw their unemployment rates drop in May. But the widespread declines were mainly because people gave up looking for work and were no longer counted.

Smaller Tractor Sales Up 9% , Larger Units Down For The Month
According to the Association of Equipment Manufacturers' monthly "Flash Report," the sales of all tractors in the U.S. for May 2010 were up 5.7% compared to the same month last year. For the year 2010, a total of 70,021 tractors were sold, which compares to 66,798 sold through May 2009.

AEM has released the 1st quarter 2010 Global Markets import/export reports, available to members
AEM (May 24, 2010) - The 2010 1st Quarter Global Markets Report, a quarterly summary of export statistics published by AEM, is now available on the AEM website. It's an invaluable tool for export-minded manufacturers to keep their finger on the pulse of global markets for agricultural & construction equipment and includes:
-Export totals to the world's top five and 25 markets
-Product-specific U.S. export figures for most product commodity codes
-General export and import trends

The first quarter of 2010 has seen agricultural exports to Russia, China, France, and Mexico increase, while construction exports saw a mild decline overall.

Oil backs off 7-month low
CNN Money (May 19, 2010) - After hitting a new 7-month low earlier in the day, oil prices rebounded as investors looked ahead to the expiration date of the active futures contract.

Consumer prices up 2.2% for the year
CNN Money (May 19, 2010) - A key index of prices paid by consumers ticked lower in April but is still higher from a year earlier, the government said Wednesday.

US retail sales, output exceed forecasts
Bloomberg (May 15, 2010) - Retail sales and industrial production in the US climbed more than forecast in April, indicating the economic recovery gained momentum at the start of the second quarter.

Consumer Spending Continues Rise In April
Manufacturing.net (May 14, 2010) - The economy is being boosted by higher retail sales, stronger factory output and a rise in companies' stockpiles.

Hiring Up In April, But So Is Unemployment Rate
Manufacturing.net (May 7, 2010) - The economy got what it was looking for in April: A burst of hiring that added a net 290,000 jobs, the biggest monthly total in four years.