Nov 20 Emerson Electric Co said Tuesday
it expects order rates to remain "slow and choppy" in coming
months as slowing economic growth dampens business investment.
Emerson is one of a handful of U.S. industrial companies
that comment on business trends in between quarterly earnings
reports. Its interim reports help set analyst expectations.
Total company orders were flat to down 5 percent in the
three months through October, matching their pace in the prior
three-month period, the industrial conglomerate said in a
monthly regulatory filing.
Orders were up 5 percent to 10 percent in Emerson's process
management segment, helped by currency translation. Weak
European economies hurt orders in the industrial automation
segment and also weighed on Emerson's network power business.
Global telecommunications and information technology markets
are contracting, the company said. Weakness in those markets led
Emerson to take a $592 million charge in its most recent quarter
and to plan the sale of its $1.4 billion embedded computing and
power business. Orders in this business improved.
Orders improved in Emerson's commercial and residential
solutions segment that makes storage products and food waste