The best word to describe the U.S. economy and economies around the world is "stability," Caterpillar CEO Doug Oberhelman told CNBC on Monday, despite the company's disappointing earnings, revenue misses and scaled-backed outlook.
"It's really hard to predict a really flat-to-slow economy and what happens to us with the segments we sell to," Oberhelman said in a "Squawk Box" interview. Still, "this is the first year in three years where we've seen a relative degree of stability around the world," he said.
He said the U.S. economy appears to be growing in the 2.5 percent range, with the world economic growth from about 2.5 to 3 percent.
"I was just in Europe in the last two weeks at a huge construction show," Oberhelman reported. "[And] the news wasn't doom and gloom."
Though the latest prediction from the International Monetary Fund called for the euro zone economy to contract for a second consecutive year.