Caterpillar CEO Says Anticipate Demand In China Will Remain At A Relatively Low Level For The Above 10-pound Excavator Industry; In North America, Government Related New Infrastructure Projects Are Expected To Remain Healthy
Portfolio Pulse from Benzinga Newsdesk
Caterpillar's CEO anticipates that demand in China for the above 10-pound excavator industry will remain low, while in North America, government-related infrastructure projects are expected to stay healthy.
October 30, 2024 | 12:44 pm
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Caterpillar's CEO forecasts low demand in China's excavator market, potentially impacting sales negatively. However, North America's infrastructure projects are expected to remain strong, which could offset some of the negative impact.
The CEO's comments suggest a mixed outlook for Caterpillar. The low demand in China could negatively impact sales in that region, but the healthy infrastructure projects in North America could provide a positive offset. This results in a neutral short-term impact on the stock.
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