China’s construction machinery market in Feb hit seasonal slump, with CMI index growth slowing down

Impacted by the winter cold weather and Chinese New Year holidays, etc., the China Construction Machinery Market Index, namely CMI, was 93.97 in February 2024, lower by 7.19% year on year and decreasing by 7.55% month on month. According to the CMI judgment standard, the index value in February fell back to the contraction value of 100 or less, the market sentiment is more pessimistic, and there is a risk of contraction in the short term.

Except for some national key projects and raw materials demand in the field of mining, the overall domestic construction machinery market fell into a festive and seasonal slump.

Judging from the published China Purchasing Managers’ Index (PMI), the construction industry business activity index has declined as the construction industry entered the off-season, but this index is expected to pick up in March.

5 Mar 2024 reported by Machinery News