Emerson discloses 3-month orders growth data; July -20% to -15%
Trailing three-month orders decreased double digits as monthly orders continue to reflect the drop in oil prices, a global slowdown in capital spending, and significant strength in the U.S. dollar, which deducted 6 percentage points through currency translation. Global spending remains sluggish as lower oil prices continue to affect capital spending in both oil and gas and energy-related markets. Underlying orders were down 10 percent reflecting slow market conditions in most segments, but remained consistent with the 8 to 10 percent decrease in trailing underlying orders reported in each of the prior four months.