US construction shows no signs of slowdown


Big demand: A Caterpillar 950 electric medium wheel loader prototype being displayed at the ConExpo in Las Vegas. The growing strength of the construction industry in the US is expected to continue growing this year. — Bloomberg

LAS VEGAS: Construction activity isn’t showing any signs of slowing down across North America this year, Caterpillar Inc’s top executive says on the sidelines of the industry’s largest conference.

Even as some worry building demand could start to slow, especially if the United States dips into a recession or if the collapse of Silicon Valley Bank infects other sectors, Caterpillar’s customers are still seeing new projects coming in, chief executive officer Jim Umpleby said.

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