U.S. Manufacturing Titans Portend Gloom for Global Economy

(Bloomberg) — Two of the most recognizable names in U.S. manufacturing are signaling more pain lies ahead for the global economy.Caterpillar Inc. predicted Friday that its 2020 profit will trail analysts’ estimates, while U.S. Steel Corp. reported the worst loss in almost three years and expects similar results this quarter.That’s a blow to markets already reeling from the worsening outbreak of the deadly coronavirus, a factory slump and major cutbacks in corporate spending. It shows how the troubles plaguing the world economy may go deeper than the trade tensions that had dented sentiment through much of last year.“We expect continued …read more

Source:: Yahoo Finance


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