Capex cliff steepens for Caterpillar

Wednesday 21 May 2014

A nice little indicator of the imploding global mining capex boom last night from Caterpillar whose global sales fell 13% year on year in the March quarter, continuing the not so recent pattern. Here’s the chart from Zero Hedge:

Hell of a boom, hell of a bust.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.