The World Bank is tipping a slowdown, with growth expected to decrease from 5.5% in 2021 to 4.1% this year.
Reasons for the slowing growth rate include ongoing virus threats, reduction in government aid and slipping demand.
However, the materials handling market appears to be bucking the trend, with the major manufacturers entering the year with strong order books and healthy sales figures.
Interestingly, we report this week that dwindling equipment stocks are also boosting the used machine market, with a leading auctioneer recording significant increases in prices for older stock - with fewer items going under the hammer.