Ingersoll-Rand CEO says housing demand bottomed - 2007-02-28
Retail orders for Ingersoll-Rand Co. Ltd.'s Bobcat construction equipment has stabilized, but the degree of demand from equipment rental companies is not yet clear, Ingersoll's chief executive indicated on Wednesday. Sales of Bobcat machines, including compact, maneuverable vehicles used in construction and farming, have fallen sharply in recent months, reflecting the U.S. housing downturn.
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Tail of housing slump still wagging U.S. economy - 2007-02-28
Alan Greenspan and the Wall Street nosedive aside, economists think the probability of a U.S. recession this year is still quite low, and the likelihood of one in China is even less. Greenspan, a former chairman of the Federal Reserve, warned this week that the world’s largest economy, the United States, could slip into a recession this year. That would not be good news for the global economy. However, many economists put the odds of a recession at about one in five.
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