Allen Root, Barron’s
There is more economic trouble brewing. This time the problem is U.S. construction, and that is bad news for industrial stocks, particularly makers of backhoes, cranes and dump trucks.
The news isn’t just about Deere and Caterpillar. U.S. construction spending matters—a lot—to the economy. It is another trillion-dollar end market, and construction spending has been a bright spot for the U.S. industrial economy in recent years. However, like other end markets that drive industrial businesses, such as car sales, things aren’t looking as rosy as they once did."
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