Caterpillar Retail Sales Post Longest Winning Streak In 51 Months
by Tyler Durden
ZeroHedge.com
Jul 24, 2017
Caterpillar’s great depression ended four months ago, when in March following a record 51 consecutive months of annual declines, its global retail sales posted the first, if modest, monthly increase growing by 1% on the back of a surge in Chinese and other Asia/Pac sales. Since then the trend has accelerated, and in June the company reported that Asia Pac sales rose by 40% Y/Y, which however appears to the next cyclical slowdown following increases of 46%, 47% and 49% in the March-May period. Just as notably, retail sales in the US rose by 2% again, the best performance since May 2015.
The result is that CAT’s global sales have posted the longest positive streak in 51 months, and appear to have put the 4+ year depression in the read view mirror – even if Asian retail sales appear to be slowing once again – and are levitating higher, although as we said last month, just like during the 2011/2012 downturn, it all depends on how “hard” China’s economic slowdown will be over the coming year.
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