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On the Call: 3M CFO says outlook cautious

3M Co.'s industrial and transportation division is its biggest, and like a lot of 3M's other businesses it tracks the economy's ups and downs.

On 3M's conference call on Tuesday, its executives were asked what demand they're seeing in that area.

ANSWER: Chief Financial Officer David Meline said they were seeing "some softening in industrial momentum, which is very consistent with what's going on in the macro economy."

"We've taken a more conservative posture in terms of the outlook for growth for the full year. That reflects a more conservative view of the fourth quarter, because we think there's plenty of uncertainties out there. So while we've been encouraged with our ongoing performance, we're also frankly trying to be appropriately cautious right now."