Caterpillar Issues Bleak Outlook For The World
MYLES UDLAND
BusinessInsider.com
JAN. 27, 2015
Caterpillar just hit Wall Street with some terrible news about the global economy.
The construction-equipment giant just reported fourth-quarter earnings that missed on profit, though sales just beat expectations.
But the really downbeat part of the company’s report was its outlook for 2015, and in premarket trade following the results Caterpillar shares were down as much as 7%.
In its earnings release, Caterpillar said:
We expect world economic growth to only improve modestly in 2015. The relatively slow growth in the world economy and continued weakness in commodity prices — particularly oil, copper, coal and iron ore — are expected to be negative for our sales.
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