Surpassing even the most optimistic expectations of industry observers, sales of construction equipment are on pace to record double-digit growth for 2018, providing welcome momentum in the face of looming uncertainties about the market’s long-term prospects.
With the Occupational Safety and Health Administration’s new rule for crane operation taking effect this month, the industry’s response has been less a panic over additional regulation than a sigh of relief for overdue clarifications.
Proponents of two historic code changes--one to allow taller mass-timber buildings and the other to allow use of higher-strength reinforcing steel--are optimistic after recent ballots.
Caterpillar posted strong gains in the third quarter of 2018, but analysts were seeking clearer answers on how the company may absorb a rise in material costs.
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