China-based Construction Machinery and Equipment (CME) with the data from earlier this week. In October China’s excavator sales are estimated to have reached 16,791 units:
More notably, excavator sales in the Chinese domestic market are estimated at 8,266 units
- +21.6% y/y
- Excavator sales to the export market +9.46% y/y
For the January-October 2024 period this year, China’s excavator sales are estimated to have increased by 0.47 percent year on year
- domestic market +9.8% y/y
- export market -7.41% y/y
Is this a sign of green shoots for the economy in China?
There has been plenty of stimulus announcements, that the market has been disappointed with. But, are thye having an impact?