Deere CEO Stands By Company's Forecast

Despite the lagging economy, Deere & Co.'s CEO stands by the company's full-year profit forecast.

According to Deere & Co.'s CEO Samuel Allen, U.S. economic growth for 2011 is not as high as many thought it would be. However, despite the lack of expected growth, Allen stands behind the company's full-year profit forecast which was issued in May.

Allen notes that while the turf and construction industries are still lagging economically, a strong demand for agricultural equipment in several markets including the United States and Brazil has helped to keep a balance.

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