Caterpillar CEO: U.S. Economy Stronger Than Most Think

[Truthseeker420]

Heavy equipment maker Caterpillar (NYSE: CAT) reported its 2011 Q4 earnings on January 26, and they were stellar: a 60% increase that beat analysts’ predictions by $.60 per share. In fact, the company claims that sales grew more during the last year than they had since 1947. Even for a mover and shaker of Caterpillar’s proportions, that’s huge.

In an interview with Susie Gharib of Nightly Business Report, Caterpillar CEO Douglas Oberhelman credits a stronger global economy for the higher sales and revenue, noting that the U.S. economy is doing better than is commonly thought. He estimates that housing starts for this year will number around 750,000, which he acknowledges is not as high as many would like, but is a great step forward. He notes that orders are up across the country--projects are being planned, and implemented. He also anticipates that Caterpillar will be creating more jobs as the company continues to grow.

That’s quite a prediction, but Caterpillar has a unique perspective on the economy—from the ground up, if you will. They know when their customers have no work, as was the case in 2009, according to Oberhelman. When the earth doesn’t move in agriculture and the building trades, well, that doesn’t make for a spunky economic climate. With North American sales up 39% last year, however, things are definitely looking up.

Caterpillar CEO: U.S. Economy Stronger Than Most Think - CAT, DE, LEN, TEX - Foolish Blogging Network