It's probably nothing.
Caterpillar Inc., the world’s largest maker of construction and mining equipment, forecast sales growth for 2013 that is the slowest in four years as the global economy decelerates.
Sales growth will be in a range of up 5% to down 5% next year, the Peoria, Illinois-based company said today in a statement. That compares with year-over-year growth of 31% in 2010, 41% in 2011 and an estimated 13% this year.
“Caterpillar is facing several headwinds, the biggest of which is the macro environment, which has led to significantly lower commodity prices, weighing on mining capex, which will hurt orders and revenues,” Joel Levington, managing director of corporate credit for Brookfield Investment Management, said in an Oct. 18 e-mail. “Inventory levels remain elevated, which could also pressure volumes on the manufacturing floor.”
Chairman and Chief Executive Officer Doug Oberhelman has invested in Caterpillar’s factories and announced about $10.3 billion in deals since becoming CEO in July 2010. His expansion plans are facing hurdles as the European debt crisis persists and economic growth decelerates in emerging markets from China to Brazil.
more it's the economy stupid
Caterpillar sees growth slowing to 4-year low | Investing | Financial Post
Caterpillar Inc., the world’s largest maker of construction and mining equipment, forecast sales growth for 2013 that is the slowest in four years as the global economy decelerates.
Sales growth will be in a range of up 5% to down 5% next year, the Peoria, Illinois-based company said today in a statement. That compares with year-over-year growth of 31% in 2010, 41% in 2011 and an estimated 13% this year.
“Caterpillar is facing several headwinds, the biggest of which is the macro environment, which has led to significantly lower commodity prices, weighing on mining capex, which will hurt orders and revenues,” Joel Levington, managing director of corporate credit for Brookfield Investment Management, said in an Oct. 18 e-mail. “Inventory levels remain elevated, which could also pressure volumes on the manufacturing floor.”
Chairman and Chief Executive Officer Doug Oberhelman has invested in Caterpillar’s factories and announced about $10.3 billion in deals since becoming CEO in July 2010. His expansion plans are facing hurdles as the European debt crisis persists and economic growth decelerates in emerging markets from China to Brazil.
more it's the economy stupid
Caterpillar sees growth slowing to 4-year low | Investing | Financial Post