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:

  • that's +15.1% y/y

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?

green shoots

There has been plenty of stimulus announcements, that the market has been disappointed with. But, are thye having an impact?