Both China and Brazil have announced infrastructure projects. Yet there is currently an inventory overhang in China and Latin America that the regions will have to work through, Seymour said.
Despite the earnings cut, Caterpillar is still forecasting modest gains in construction activity in emerging markets amid an “anemic” economy, Chairman and Chief Executive Office Douglas Oberhelman said on Thursday.
“The bottom line here is they’re saying the world is moderately better — that we’re going to see somewhat tempered but real global growth,” Seymour said. (Read More: Caterpillar’s Warning—What It Means for Global Growth.)
—By CNBC.com's Katie Little; Follow Her on Twitter @katie_little
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Disclosure information was not available for Tim Seymour.