United Technologies (UTX) reckons that Asian sales will rise 7-8% over the next 10 years, CEO Louis Chenevert says, boosted by demand for elevators and air conditioners as China continues its prodigious building of skyscrapers. Chenevert forecasts that U.S. growth will be 2-3% but that Europe will be flat. United Tech also expects Asian demand for Pratt & Whitney's aircraft engines.
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