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"Don't Taper Me, Bro" - Caterpillar Global Sales Drop At Fastest Pace Since March
There was a time when the only geographic region that made up for contracting global Caterpillar sales was Latin America, which was the only silver lining amongst an otherwise dreary year-over-year sales performance landscape. As of August, that is no longer the case, with LatAm sales for the heavy industrial equipment maker plunging from a positive 11% to -3%. This was the first Y/Y drop in LatAm sales for Cat since September of 2012, and joins virtually every other global region in posting a drop in year over year sales. It also dragged total world sales down to -10% on a year over year basis, down from -9% and -8% in July and June, and is the lowest sales "growth" since March. Just three more percentage points and Cat will have the biggest annual drop in global sales since 2010. The only good news in the report: North American sales cautiously peaked out from negative territory where they were hiding since December, and posted a measly +1% growth in August, even as every other world region was substantially in the red. The implications of this report are of course great for stocks: bad CAT, bad end demand, bad global economy, no taper, Turbo QE. Because bad news has never been gooder for the BTFATH chasers.
Source: CAT
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