NEW YORK/LONDON, Aug 10 (Reuters) - Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling.
Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth.
Now, global demand is falling as borrowing costs have risen, so companies have started running down stocks.
Maersk controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies.
Refinitiv I/B/E/S data shows U.S. and European companies are expected to report their worst quarterly results in years.
Persons:
Vincent Clerc, Hugo Boss, Moller, Stanley Black, Decker, destocking, Levi Strauss, Rajiv Sharma, Arun Sundaram, Guillermo Novo, Cyrus de la Rubia, Siddharth Cavale, David Gaffen, Josephine Mason, Mark John, Jonathan Cable, Helen Reid, Jane Merriman
Organizations:
U.S, Maersk, Heineken, 3M, . Bureau of Labor Statistics, CFRA Research, Retailers, BASF, London, Rutgers University, Hamburg Commercial Bank, doesn't, Thomson
Locations:
Ukraine, U.S, United States, Ashland, Hamburg, New York, London