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ABB wary of hailing recovery after first order growth since 2015

ABB sees signs of order growth for the first time since 2015, but this is not enough to call a turnaround in light of political uncertainty and dwindling demand from the oil and gas industry.

Photo: ABB

ABB Ltd. said the first signs of order growth in two years are not enough to call a turnaround as dwindling demand from the oil-and-gas industry and an increasingly uncertain political situation weigh on the outlook.

Quarterly orders rose for the first time since the first three months of 2015, increasing 3 percent from a year ago, the Swiss maker of industrial robots and power systems said in a statement. Yet momentum "isn't that strong yet," Chief Executive Officer Ulrich Spiesshofer said on a call with journalists on Wednesday.

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