Machinery: Construction Slowdown Hurts, but Rising Farm Incomes Lift Agricultural Equipment
The machiner1y industry consists of four segments, which are manufacturers of trucks, agricultural equipment, construction equipment, and industrial machinery and equipment. This mature industry is highly cyclical and tends to lag the general economy. It is one of the largest industries in the U.S., and is one of the few manufacturing industries that have grown over the past decade. Large capital requirements and skilled labor needs have given U.S. manufacturers a competitive advantage over low-wage/low-skilled developing countries.
