Caterpillar Pessimistic about 2013’s Growth Pattern

.

Caterpillar Pessimistic about 2013’s Growth Pattern

Caterpillar, an American corporation, which designs, manufactures and sells machinery, has revealed that it did not have a good start for 2013. Caterpillar said that it had a great start in 2011 and 2012 but not in 2013.

It continued by saying that they are having less hopes that the first six months of 2013 will go prosperous. Caterpillar's CEO Doug Oberhelman said that they are hoping that the US economy to pick up in the year. But if it does not then a number of problems will be created.

Oberhelman not only forecasted about the US economy but also of China. He continued by saying that China will continue to show growth. Till now, there are no chances that its economy will witness a sluggish phase.

Caterpillar, which is said to be the world's biggest maker of construction and mining equipments, is registering profits. However, it seems that it has not been getting the desired results. As otherwise, its shares in pre-market trade have witnessed a rise of 2.3%.

Experts explained the reason of Caterpillar's gloominess. They affirmed that the net income of the company in the latest quarter was reduced by 50%. Caterpillar earned $697 million this time in comparison to $1.6 billion in last year.


Latest News

QEP Pipeline Assets Bought by Tesoro in a $2.5 Billion Deal
Adidas’s Reebok to Get a $2.2 billion Bid from Investors
Survey Reveals Slow Wage Increases in the U.S
Eurozone’s Low Performance Draw Mixed Reactions
Too much coffee affects fertility among men
Graphic WA Heart Foundation LiveLighter campaign targets obesity
Now, a device that will improve vision
Change in gene can cause depression and ageing
U.S. Economic Growth Gets a Boost with New Home Building
Tesla May not Get an Opportunity to Open Stores in Michigan
Cuban role applauded by Kerry in Ebola fight
Travel restrictions can be caused by rising polio cases