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Story summary
- The Association of Equipment Manufacturers (AEM) reports declines in North America's heavy equipment production and employment since 2022.
- In 2025, total sales and output fell to $902 billion, down from $905 billion, while employment dropped to 421,000.
- The downturn stems from high interest rates, end of Infrastructure Investment and Jobs Act, and tariffs.
- The findings foreshadow a somber mood at the CONEXPO-CON/AGG expo in Las Vegas, which opens Tuesday.
