Caterpillar sales down in November

Caterpillar reports retail sales by its dealers in the rolling three month ended November down 17%.

North America dealers ended November 2016 down 19%.

The growth spot was Asia/Pacific dealers where Caterpillar’s sales were up 11% for the period.

In Caterpillar’s Latin America division, total sales are down 32% year over year, with sales of mining equipment down 37% and sales of construction equipment down 30%.

In its preliminary outlook for fiscal year 2017, Caterpillar said that “sales and revenues will not be significantly different than 2016.”

Negative risk is stronger in the first half of the year, but the company said it is “encouraged that most commodity prices important to our business have improved from the lows earlier in 2016.”

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