By: Rob Wertheimer
Parker Bay industry shipments of mining equipment for 2Q19 show a couple of contrasting narratives. The negative side is that industry sales have flattened out. Dollars shipped rose 7% in total year over year, with trucks up 3%. Trucks are what most folks focus on and are about 60% of the industry value. Versus the most recent quarter, sales were flat. Adding to the negative theme, dollar sales in 2019 are on pace to be around 5% below the past 15 year’s average, or in other words, normal, if the huge cycle we have seen since China drove up the global commodity complex back in the early 2000’s is normal.