Oct 24, 2017

Caterpillar's growth indicates strengthening world economy

Erica Pandey

Caterpillar is the world's largest manufacturer of construction equipment. Photo: Charlie Neibergall / AP

Manufacturing giant Caterpillar is forecasting $44 billion in sales for 2017, which is the company's third consecutive increase in projected annual revenue, Bloomberg reports. And sales are rising globally with surges in North America (27%), Asia (31%), Europe, Africa and the Middle East (22%), and Latin America (24%).

Why it matters: Caterpillar touches a diverse range of industries around the world, including U.S. oil and Chinese construction, and its growth serves as litmus test for global economic expansion. This positive news from Caterpillar is the latest indicator of synchronized growth of the world's economies, which hasn't happened since before the Great Recession.

Go deeper: The world's top economies are all growing at once.

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Ursula Perano

Cuomo says New York is "literally going day-to-day with our supplies"

New York Gov. Andrew Cuomo said in a press conference on Sunday that New York is struggling to maintain medical supplies while combatting the novel coronavirus — operating "literally" on a "day-to-day" basis.

Why it matters: New York City has become an epicenter of the coronavirus outbreak, facing mass quarantines and stay-at-home orders. Cuomo said Saturday that New York reported 630 new deaths in 24 hours — an "all-time increase" that beat the previous day's record of 562 deaths.

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 1,225,360 — Total deaths: 66,542 — Total recoveries: 252,615 — Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 312,249 — Total deaths: 8,503 — Total recoveries: 15,021 — Map.
  3. Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. Surgeon general says this week will be "our Pearl Harbor, our 9/11 moment."
  4. 2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August." Biden says DNC may have to hold virtual convention.
  5. States updates: The Louisiana governor warned that his state is set to run out of ventilators in four days. Illinois governor claims Trump doesn't understand the word "federal."
  6. Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Work update: Employees still going to work are often facing temperature checks, distanced work stations, protective devices and mass absences.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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