Caterpillar Asia Sales Crater By 30% – Company Reports Weakest Stretch Of Global Demand Since Lehman Collapse

June 22, 2014 Leave a comment

Caterpillar Asia Sales Crater By 30% – Company Reports Weakest Stretch Of Global Demand Since Lehman Collapse

Tyler Durden on 06/19/2014 10:54 -0400

The chart below, showing CAT latest monthly retail sales for the month of May and broken down by region as well as consolidated for the entire world, paints a vastly different picture than that presented by the company’s stock price.

The highlights: US retail sales, up 14% in May, were a modest increase from the 12% increase in April. However, the bounce is from a base of a -16% tumble reported a year ago. Still, the US was the only bright spot on a very dreary landscape as the rest of the world continues to slide. In fact, while both the EAME and Latin America region posted their third consecutive month of 20%+ declines (-22% for EAME, -23% for Latin America), it was Asia (read China) where CAT sales have createred, and the -30% plunge in annual retail sales means Chinese demand for industrial equipment is the weakest it has been since the Lehman collapse.

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Consolidated, CAT retail sales for the entire world declined by 12%, virutally unchanged from last month’s 13% drop, which was the biggest also since Lehman, and represents 18 continuous months of declining annual sales.

 

Filed under Macro Trends

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