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Caterpillar Sees Dearth of Projects in North America -- Market Talk
DOW JONES & COMPANY, INC. 8:48 AM ET 4/25/2017
Symbol Last Price Change
CAT 96.81 0 (0%)
QUOTES AS OF 04:00:49 PM ET 04/24/2017
8:48 ET - Caterpillar(CAT) reported a 7% decline in sales in its construction segment in North America in 1Q, a reminder of sluggish growth in funding for infrastructure projects. The drop is a sign of the so-far unfulfilled hopes that increased spending on road, bridge and other public-works projects would benefit makers of excavators, bulldozers and other heavy equipment. CAT also cited changes in dealer inventories and low end-user demand given used equipment on the market. "Although residential and non-residential building construction activity improved, the company believes demand for new construction equipment has remained low due to end users' utilization of existing used equipment and weak infrastructure development," CAT said. ([e-mail]; @AndrewTangel


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04-25-170848ET
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