BANGKOK -- Business has been improving since August at Sany Heavy Industry. So excuse the sigh of relief. The Chinese maker of construction machinery, not to mention the rest of the industry, had been suffering from a serious overcapacity problem as China's economy stopped growing at a red-hot pace.
"We have begun to see some signs of recovery in the industry," Sany President Xiang Wenbo said last week, noting a five-year-long supply glut. "The sale of excavators showed steep year-over-year growth of 48% in August and year-over-year growth of over 100% in September."