Industrial Insight

CAT | January 27, 2014

Caterpillar Forecast Tops Estimates as Construction Recovers

By Shruti Date Singh Jan 27, 2014 9:18 AM CT

Speaking today in an interview on Bloomberg Television, Chairman and Chief Executive Officer Doug Oberhelman said that while the depth of the mining slump is “surprising,” the worst of the cost cuts for the company is “behind us.”

Caterpillar today forecast world economic growth at about 3 percent in 2014, up from about 2 percent last year. It predicted sales in its power systems and construction industries units will rise 5 percent. The resources segment, which consists mainly of mining equipment, will see revenue fall about 10 percent, it said.


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About author

I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.







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