A university survey flashed another signal that the downturn in the US farm equipment market is at least slowing, even as it reported a 40th successive month of decline in the country's farmland prices.
A farm machinery sales index compiled by Creighton University, from a survey of lenders in major US agricultural states, came in at 22.0 for this month.
While a “still very weak” reading, and well below the 50.0 which indicates a neutral market, the figure was the highest in more than two years – and well above the figure of 6.7 reported for March last year, a low for the survey.
“This markets the fifth straight month that the reading has advanced,” Creighton University said.
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