More indications on the health (or otherwise) of the global economy from a Caterpillar announcement overnight
Caterpillar is a huge manufacturer of heavy industrial equipment, notably construction and mining equipment (their core businesses). The company is often considered a ‘bellwether’ for the health of the global economy. So, the news is not a reassuring sign. Hardly surprising, though, given the core focus of their business and how conditions have declined in those sectors.
Overnight press: Caterpillar looks at falling revenues, cuts sales forecasts, cuts jobs
