‘It’s still hand-to-hand combat’: Cat sees no supply chain relief

Major construction and mining equipment manufacturer Caterpillar expects supply chain and inflationary pressures to continue in the current half after it added US$2 billion to its order backlog in the June quarter – plus-$10.1b year-on-year – while seeing no sign of slower demand across end-markets.

CEO Jim Umpleby said the surge in backlog across construction, and energy and transportation occurred despite threats from higher interest rates, lower commodity prices and a cooling US housing market. No significant order cancellations had been seen outside Russia.