If The Economy Is Recovering.... (CAT)
... then how come the wire has this story?
Co reports retail sales of machines declined 20% y/y in Feb and sales of reciprocating & turbine engines to retail users & OEMs declined 33% y/y in Feb
Another source off the wire has even uglier numbers:
Caterpillar Inc Reports 3 month dealer statistics;
Dec-Feb sales - filing
- Retail Sales of Machines:
Feb.10 Jan.10 Dec.09
Asia/Pacific DOWN 2% UP 1% DOWN 12%
EAME* DOWN 22% DOWN 35% DOWN 41%
Latin America DOWN 20% DOWN 15% DOWN 24%
ROW* DOWN 15% DOWN 19% DOWN 28%
North America DOWN 30% DOWN 40% DOWN 46%
World DOWN 20% DOWN 27% DOWN 35%
Sales of Reciporcating & Turbine Engines
to Retail Users & OEMS by Business Sector
Feb.10 Jan.10 Dec.09
Electric Power DOWN 26% DOWN 27% DOWN 27%
Industrial DOWN 15% DOWN 22% DOWN 44%
Marine DOWN 23% DOWN 18% DOWN 29%
Petroleum DOWN 47% DOWN 46% DOWN 46%
Total DOWN 33% DOWN 33% DOWN 36%