Manufacturing Depression Enters Uncharted Territory: Caterpillar Retail Sales Have Never Been Worse

 

Moments ago Caterpillar reported its latest monthly retail sales statistics and the numbers have never been worse.

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Putting the annual drop in context, CAT sales dropped 12% a year ago, another 9% in 2013, and -1% in 2012, or four consecutive years of declines!

8 Charts That Prove The US Is Already In A Recession

The evidence is mounting…

While broadly-speaking, both ‘hard’ and ‘soft’ macro data has disappointed, as we noted previously, the scale of those ‘missed expectations’ is stunning – worst since Lehman. While this is blamed on weather, the fact is that America had 30% less snow this year than last and still, as the following charts strongly suggest, the YoY drops are on a scale that screams “recession”…

The U.S. economy is showing cracks

 

America’s economy is starting to see cracks after closing out 2014 with Superman strength.

The U.S. job market had its best year of gains last year since 1999, and economic activity hit a whopping 5% in the third quarter — the best quarter since 2003.

Three months later, the U.S. economy is looking a little tired. It’s losing momentum in puzzling ways. Hiring is still strong, but experts are starting to scale back their growth forecasts.

Eurozone on brink, again — investors, analysts

Given the absence of serious moves from Europe, anything could set off another bout of international financial contagion

Dow Jones Market Watch is warning of major problems emanating from the Eurozone. This comes amid the latest data from Spain where the economy contracted yet again, this time by 1.7 percent in the second quarter on a year-on-year basis. More problems were reported out of Greece, Italy and Germany.

In an article today, Michael Casey, managing editor for the Americas at DJ FX Trader, said:

20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead

#1 Freight shipment volumes have hit their lowest level in two years, and freight expenditures have gone negative for the first time since the last recession.

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#5 A state-appointed review board has determined that there is “no satisfactory plan” to solve Detroit’s financial emergency, and many believe that bankruptcy is imminent.  If Detroit does declare bankruptcy, it will be the largest municipal bankruptcy in U.S. history.