Bloomberg reported that the demand for diggers, loaders and other big-ticket construction equipment will likely continue to fall this year as China’s economic slowdown proceeds.
Komatsu, Japan’s largest supplier of construction equipment and a global competitor of U.S.-based Caterpillar, said that demand for construction equipment in China fell by 50% in the first quarter, Bloomberg said.
Citing comments made by Jun Fujioka, the chairman of the Japan Construction Equipment Manufacturers Association, Bloomberg said that the sale of excavators by foreign suppliers in China will fall by 40% in the fiscal year to March 2016.
Read the full report from Bloomberg here.
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