Deere sets income record

Deere and Company, the world’s largest farm equipment maker, is reporting a big economic rebound. Tractor sales have been in a slump for the past five years, but higher commodity prices have evidently driven up demand. Sales in John Deere’s farm equipment division jumped 29 percent in the last quarter. The Moline-based company had a 33 percent jump in sales of lawn mowers and other consumer equipment. But Deere’s construction and forestry equipment were the hottest sellers of all, recording a 67 percent sales increase in the past three months. Deere’s over-all net income for the quarter was a record, with net sales and revenue topping five-point-eight billion dollars. Managers at Deere predict the company’s equipment sales will continue to be strong in coming months.