New report offers insight into off-highway equipment

As the new Administration gets going, understanding certain segments of the economy will gain importance. One area that many don't consider is the off-highway equipment market, which includes farm equipment. A new report released by the Association of Equipment Manufacturers shows that off-highway equipment manufacturing supports about 1.3 million jobs and has contributed more than $159 billion to the Gross Domestic Product of the U.S. in 2016. The association unveiled the report during its Conexpo-Con/Agg 2017 event being held in Las Vegas. The construction industry's premier trade show brings in more than 130,000 attendees. The new report was prepared by HIS Markit, and looks at the size and reach of three major market sectors - construction, agriculture and energy.