Not all bad news — ABB improves

ABB, seen with other infrastructure and engineering groups as a bellwether of global economic conditions, has posted profits and sales up in the third quarter, benefitting from acquisitions, foreign exchange (FX) movements, and cost cutting and in spite of price pressures. Revenues showed a slight increase after acquisitions FX were taken into account. The order backlog rose 7%.

“Looking ahead, uncertainty around global growth makes it difficult to forecast”, the chief executive said.

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