Excavator Sales Jumped More than 50% in August, with Infrastructure Driving Continued Bullish Prospects for the Future

As local bond issuance accelerated and real estate investment growth recovered rapidly, excavator sales continued to grow at a high rate in August. According to the China Construction Machinery Industry Association, a total of 20,939 excavators were sold in August, up 51.3% year-on-year and more than 50% year-on-year for the fifth consecutive month. Domestic sales were 18,076 units, up 56.3 percent year-on-year, while exports were 2,863 units in August, up 25.7 percent year-on-year. According to the sales structure, small and medium-sized mining continued to achieve strong growth. In August, sales of small/medium/large digs were 10142/5391/2543 units, respectively, up 51.5%/80.5%/35.1% YoY.