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Emerson Electric sales tumble as dollar, oil weigh

Emerson Electric Co. said sales tumbled 15% in its latest quarter, as a stronger dollar, lower oil prices and a slowdown in industrial spending continued to weigh on orders.

"We faced extended downward pressure on sales and earnings from strong economic headwinds that affected results across our business," said Chief Executive David Farr. Order rates remain slow in key markets, Mr. Farr said, and Emerson expects "these difficult market conditions through at least the first half of fiscal 2016," which ends in March.

The St. Louis conglomerate has been going through a particularly rough stretch amid the sharply lower price of oil and in the latest quarter, the company's industrial automation segment led the way lower. Sales there fell 28%, or 12% adjusted for currencies, as...