Aug 22 (Reuters) - Industrial conglomerate Emerson Electric Co said orders for the trailing three-month period ended July fell due to a stronger dollar and softening in the global economy.
“Global economic growth is expected to remain slow and inconsistent in the near term due to the European financial crisis, the softening Chinese economy, and continued U.S. fiscal policy uncertainty - with no clear direction,” the company said in a regulatory filing.
Emerson provides wireless networks used in oil and gas production and uninterruptible power supplies. It also makes industrial automation systems and heating and cooling technology.
Total company orders were flat to down 5 percent for the trailing three-month period ended July.
Orders in process management were flat to up 5 percent, slower than June’s growth due to Europe weakness.
Emerson reported a higher quarterly profit earlier this month, but trimmed its full-year earnings forecast because of slowing economies around the world.