Western industrial companies have seen a slowdown in some markets in China as efforts to cool the world’s second-largest economy have hit demand for capital goods and products linked to the construction industry.
China was until recently a source of rapid growth for US and European manufacturers, helping to offset weak sales in developed countries.
Last week, however, leading bellwether industrial groups including Siemens, 3M and Eaton were among those that expressed caution on Chinese sales, joining others such as Volvo and ABB that warned about cooling demand at the end of last year.
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