Emerson disclosed 3-month orders growth data; Dec -5 to 0%
Trailing three-month orders decreased slightly reflecting mixed demand among geographies and markets and strength in the U.S. dollar, which deducted 5% points through translation. Underlying orders grew moderately, led by Process Management and Commercial & Residential Solutions. Given the continued strength of the U.S. dollar against most foreign currencies, the impact on full year GAAP reported sales is expected to be 4 to 5% points. The global economies are clearly in a transition period with a significantly lower cost of oil, a stronger U.S. dollar and continued weakness in Europe.