Trailing three-month orders in industrial automation were up 10 percent to 15 percent through July, below the 20 percent pace in the three months to June.
Demand in some areas, such as power transmission, was slowing, but the slower growth mainly reflects strong year-ago numbers, when Emerson reported a 40 percent increase in the segment, the company said in a regulatory filing.
Total Emerson order growth was up 10 percent to 15 percent in the three months to July, matching the prior month’s pace. A weak US dollar accounted for 6 percentage points of the increase.
Order growth picked up in Emerson’s network power segment and remained above 20 percent in the process management business that serves the energy sector. Orders were flat to negative in climate technologies.
“We should have solid revenue growth during the next several quarters, despite the US and European economies exhibiting considerable weakness with no near-term catalysts to generate better growth,” Emerson management said in its monthly commentary.