Recent Events

First Quarter Shipments Up but Pace of Growth Slows (May 15, 2017)

Growth in manufacturers’ shipments to end-users slowed in Q1 following very substantial gains in Q3 and Q4 2016.  Most of these increases were achieved in smaller products and units (dozers, graders, drills), while the numbers of mining trucks, hydraulic shovels/excavators, and wheel loaders all declined modestly.  While that latter might be viewed negatively, it should be noted that the declines were small and relative to Q4 only.  For example, after increasing 45% between Q3 and Q4, the number of trucks shipped declined by less than 4% in Q1.  And Q1 truck shipments were 25% higher than the average quarterly deliveries during 2016.  As we’ve cautioned before, there is a risk in reading too much into changes from one calendar quarter to the next.  The recovery on mining equipment demand/shipments appears to be continuing but is not so strong as to consistently produce the gains recorded at the end of last year.

Visit the Surface Mining Equipment Index page for more information on the evolution of mining equipment shipments through Q1 2017.