Economic Tidbits

Equipment Sales Have Horsepower

The latest data from the Association of Equipment Manufacturers (AEM) showed tractor sales in the U.S. were up 9.2 percent in February compared to February 2021—17, 597 tractors verses 16,113 last year. Combine sales were also higher, up 3.1 percent, equaling 200 units sold during the month. Year-to-date tractor sales are up 5.0 percent compared to last year, while combine sales are off 26 percent. Overall, equipment sales are running ahead of last year and ahead of the five-year average. Equipment manufacturers attribute the increased strength in overall equipment sales to strong commodity markets and continued growth in larger crop farms.

Figure 2. U.S. Tractor & Combine Sales

Source: Association of Equipment Manufacturers, February 2022

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