The construction equipment manufacturing industry is expected to finish 2002 with business declines in most markets, according to an annual forecast of construction machinery manufacturers conducted by the Association of Equipment Manufacturers (AEM). Furthermore, the survey anticipates sluggish conditions for 2003. In 2002 the industry in the U.S. is expected to experience a decline of 5.6 percent compared to 2001. In Canada, business volume is expected to drop 2.8 percent. Sales to other worldwide markets for 2002 are expected to grow by 0.8 percent.
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