Warning: Global economy slowing

 Resize text         Printer-friendly version of this article Printer-friendly version of this article

The world’s largest manufacturer of tractors and excavators warned this week that the global economy is slowing faster than the company had expected.

Caterpillar Inc. along with numerous other multi-national manufacturers, including General Electric Co. and Honeywell International, said signs were pointing to slower than expected growth around the world.

Rather than buying new machines, Caterpillar dealers are selling off inventories. This is causing the company to idle some plants.

“As we’ve moved through the year, we’ve seen continued economic weakening and uncertainty,” said Dough Oberhelman, chief executive, Caterpillar.

Part of the slowdown is due to China’s construction industry slowing down. However, the company anticipates China will try to spur its lagging economy.

The global economy may not improve until the second half of 2013, Caterpillar said.

Comments (0) Leave a comment 

e-Mail (required)


characters left

6D Series

John Deere offers four models in its economical 6D Series Tractor lineup: the 105 horsepower 6105D, 115 horsepower 6115D; 130 ... Read More

View all Products in this segment

View All Buyers Guides