According to the latest reports, the machinery industry remained in a seasonally low demand period last month. Construction equipment manufacturers noted that sales levels were largely stable this month, with year-on-year growth showing improvement due to the weak base from the same period last year. Meanwhile, machine tool companies reported that order declines continued, though the rate of decline has stabilized.
August is typically a slow month for machine tool sales, and some firms reported that order reductions remained within a range of 10% to 20%. However, most companies still believe that demand remains weak, and there’s little room for further economic deterioration. They expect stability in the near term.
Meanwhile, the growth rate of factory investment (FAI) in manufacturing is continuing to slow down. It has reached its lowest level in the past four years. Additionally, FAI in key downstream industries of machine tools has also slowed, which has put pressure on machine tool demand. Despite this, sales of construction machinery benefited from base effects, with many companies reporting stable performance in August, in line with their expectations.
In addition, nearly all manufacturers pointed out that the sales drop after August last year was significant, leading to a general sense of optimism about potential improvements in the coming months. Analysts predict that national excavator sales in August may reach around 6,000 units, slightly below seasonal norms. However, a strong year-on-year rebound in the next few months is considered highly likely.
Overall, while the sector continues to face challenges, there are signs of stabilization and cautious optimism as the market moves through the traditional off-season.
Meanwhile, the growth rate of factory investment (FAI) in manufacturing is continuing to slow down. It has reached its lowest level in the past four years. Additionally, FAI in key downstream industries of machine tools has also slowed, which has put pressure on machine tool demand. Despite this, sales of construction machinery benefited from base effects, with many companies reporting stable performance in August, in line with their expectations.
In addition, nearly all manufacturers pointed out that the sales drop after August last year was significant, leading to a general sense of optimism about potential improvements in the coming months. Analysts predict that national excavator sales in August may reach around 6,000 units, slightly below seasonal norms. However, a strong year-on-year rebound in the next few months is considered highly likely.
Overall, while the sector continues to face challenges, there are signs of stabilization and cautious optimism as the market moves through the traditional off-season.
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