No Recession, but Plenty of Uncertainty: Caterpillar CEO |
| CNBC - Oct 22, 2012 |
There are no signs of recession anywhere in the world, but “no place is going gangbusters,” Caterpillar CEO Doug Oberhelman told CNBC’s “Squawk Box” after earnings on Monday.
“I don't predict a recession anywhere in the world at all in 2013,” the construction equipment company executive said, “but Europe is a one area where there are so many political unknowns, it's hard to see how that's going to end up.”
Caterpillar also sees China recovering a bit in 2013. “We sure see China past the bottom, and I’m optimistic about China in 2013, actually,” Oberhelman said.
There are also signs of burgeoning housing recovery in the U.S., but the economy needs more. “We need that housing start number to double to really start to move the economy,” he said. “It’s going to be a while before that happens.”
Calling the U.S. recovery slow and anemic, the Caterpillar [CAT 85.08 1.22 (+1.45%) ] CEO said that once gross domestic product growth gets back into the 2 percent range, we'll see both unemployment and housing starts come back.
Read Full Article from CNBC
- Posted: 2012-10-22 17:59:12
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
