No surprise to see sales down after the mining bust
Caterpillar releases its latest results tomorrow in the pre-market. The company is often seen as a proxy for mining investment and emerging markets.
Today they released their latest sales numbers, which is a rolling 3-month average:
- Globally down 11%
- NA down 4%
- Latam down 35%
- EAME down 7%
- APAC down 17%
Latin America, led by Brazil, is imploding. It's one of the most under-reported economic themes at the moment.
