Swiss-Swedish industry giant ABB no longer believes in its long-term growth targets for 2020. After releasing its third quarter results, the European industry player has downgraded expectations for revenue growth.
From 2015 to 2020, ABB expects an average annual growth rate of 3-6 percent, down from an earlier 4-7 percent forecast. This is primarily due to macroeconomic developments, according to the report published Wednesday.
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