“Caterpillar Inc. (CAT), the world’s largest maker of construction and mining equipment, forecast sales growth for 2013 that is the slowest in four years as the global economy decelerates.
Sales growth will be in a range of up 5 percent to down 5 percent next year, the Peoria, Illinois-based company said today in a statement. That compares with year-over-year growth of 31 percent in 2010, 41 percent in 2011 and an estimated 13 percent this year.
“Caterpillar is facing several headwinds, the biggest of which is the macro environment, which has led to significantly lower commodity prices, weighing on mining capex, which will hurt orders and revenues,” Joel Levington, managing director of corporate credit for Brookfield Investment Management, said in an Oct. 18 e-mail. “Inventory levels remain elevated, which could also pressure volumes on the manufacturing floor.”
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