ABB sees growth in second half as supply chain problems ease

Chief Executive Bjorn Rosengren said he expected "good momentum" in the second half of the year

ABB gave an upbeat assessment on Thursday about the remainder of 2022 after the Swiss engineering company reported a 20% increase in orders during its second quarter and said its supply chain problems were easing, Qazet.az reports.

Chief Executive Bjorn Rosengren said he expected "good momentum" in the second half of the year after the maker of industrial robots and motors reported higher demand from all regions and businesses during the second quarter.

"Overall, the supply chain constraints slightly eased compared with the previous quarter," Rosengren said in a statement. "We anticipate further easing of component supply in the coming quarters."

ABB, which competes with Germany's Siemens and France's Schneider Electric are seen as a barometer of the global economy with its control systems and chargers used in the transport sector and factories.