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Caterpillar Sees Housing Boom Leading 2021 Sales Recovery

Beating analyst expectations with their Q4 earnings, Caterpillar expects an even stronger YOY sales this quarter as construction companies and the housing market continues to boom. A broad rebound in commodity markets may mean the return of customers in the metals and oil-exploration businesses after pandemic shutdowns crushed orders. With home construction rising at the best pace since 2006, construction machinery may reach a record high in 2021. US factory that produce business and construction equipment also rose for the ninth straight month. Risks for the economic bellwether in 2021 include rising steel prices, continuing threats to mining activity from the pandemic and sharper competition in Asia. | Read more