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Reuters Summit: U.S. manufacturing sector not dead: Caterpillar's Levenick

Monday, December 12, 2011 - 03:31

Dec. 12 - Caterpillar group president Stuart Levenick says that, while economic growth will be driven by developing markets, policy can encourage investment in and growth of the U.S. manufacturing industry.

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Developing markets may be a big source of growth for the industrial sector but US manufacturing. Is not dead that's according news through eleven. Group president at caterpillar he joins me straight from the Reuters global manufacturing summit. While the student in -- you won the US to become. More but export driven economy so how do we get there. Well I think one of the foundation is would be. Aggressive free trade legislation we are very very happy actually. Of the results of Panama and South Korea. These are very positive for for our business but we'd like to see much more so we're room were big US exported day we'd like to be even stronger. What about the currency back and eighties this much attention on the yen with call moxie in your account -- with them. All the the dollar's been -- since 2008 which must've been -- helping exports what do you see the dollar trading against the yen and the Euro next year. Well -- I think our forecast for much of a continuation what was she right now but as you know world world far long manufacturing. Organizations we manufacture and most of these zones around the world were relatively balanced. It comes to -- supported view. Naturally when you have fast. Movements are very quick movement second costs missile patient's overall well balanced and most of the major markets and so. For workers -- point of view I think it's. It's -- for new America is going forward is -- -- -- work but any levels you're looking at for the yen or Euro current currently what we -- right now it's -- Continuation of war we've got right now. Let's take a look at the US -- obvious political deadlock deadlock here how is that impacting your forecasting you're planning and your hiring. For next. Well you seemed. Some significant capacity expansion account or -- recently both communities is Apple's arrest. Hiring continues to increase -- -- about 3000 jobs worldwide. A significant -- United States last year. Naturally we'd like to see. You know. Into gridlock in Washington. Frankly were were performing quite well occurred more room and if you look at our outlook we put router for our outlook. We're looking for about 2% growth in -- -- next year's poor. Preliminary sales outlook that we -- You're saying you're not affected by right now wolves are going to -- it certainly could be better to but at this point I think. You know we see moderate rural commuters it is continuing our business for heavily driven by our replacement. We're stolen anywhere near Barack and in -- in order to where we weren't capable sinners. But there aspirants replacement business that is -- positive. Aren't really into and a half percent growth in North America. I you get two thirds -- your revenues outside of North America Europe you're looking for growth of all 1% one -- the Euro zone but given the talk of a possible recession there. Are you going to be revising that outlook. Down. Well -- you will issue final guidance. You know you the end of January with -- your results. But in the primary. That we put. We had sales going to 20% and Torre told that included only 1% in your own one half percent of girls girls we don't have much in there right now. That's relatively. You know recession. Is so. So we don't have much in there right now room for your Q&A possible talk.

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Reuters Summit: U.S. manufacturing sector not dead: Caterpillar's Levenick

Monday, December 12, 2011 - 03:31