The Associated Press reported that companies across the U.S. ordered more heavy equipment and machinery in August, a positive sign for the slumping economy.
While certain companies were suffering due to the dire state of the global economy, businesses like John Deere released new lines of farm equipment at significant events like the Farm Progress Show in Decatur, Illinois, according to the news outlet.
Shipments of goods increased 2.8 percent within the sector, which marked the fourth consecutive monthly gain within manufacturing and industry orders. The government noted that this rise was due to the innovation within the sector.
Companies within the industry are expanding and modernizing despite the state of the economy, as they see innovation as the only way to stay ahead during the turbulent times. Increased orders at these businesses could lead to the release and sale of more products, according to the AP.
The announcement came as John Deere was named one of the 2011 Best Global Brands by Interbrand due to its continued excellence in the field, according to the Quad City Business Journal.
Companies across the U.S. increase orders for heavy equipment
While certain companies were suffering due to the dire state of the global economy, businesses like John Deere released new lines of farm equipment at significant events like the Farm Progress Show in Decatur.