Global sales of construction equipment are forecast to grow 3.9 percent in unit terms in 2016, to 760,508 machines, according to economic forecasting and market research consultant, Off-Highway Research.

The Equipment Leasing & Finance Foundation on Monday lowered its forecast for corporate investment in equipment and software. The foundation now expects investment to grow 5 percent in 2015, according to the second quarter update to the 2015 Equipment Leasing & Finance U.S. Economic Outlook. In December, the foundation had forecast 6 percent growth for the year.