Caterpillar warns machine sales worsen

Those hoping for evidence that the sales slump at Caterpillar, a barometer of the mining industry, is stabilising haven’t got it on Wednesday.

The US heavy machinery maker said its three-month rolling retail machine sales took another leg down in December, with the decline in sales in all regions accelerating compared from the previous rolling three month period that ended in November.

Caterpillar is seen as a bellwether of global activity since companies and governments are only likely to place orders if they are confident about the outlook.

While the company says the sales numbers includes the negative headwind coming from the stronger dollar, the trend remains down.


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