Article from yesterday however after a slight pullback its up over $54 today. This market is extremely forward looking. Caterpillar's August Sales Plunge 48% By Scott Eden 09/21/09 - 04:38 PM EDT See 1 Comment Leave a Comment Stock quotes in this article: CAT PEORIA, Ill. (TheStreet) -- The slumping demand for Caterpillar's(CAT Quote) machinery continues apace, judging by the August sales figures released by the big equipment maker on Monday. Worldwide machinery sales in August were 48% below what they were in the same month of 2008, Caterpillar said in an 8-K filing with the Securities and Exchange Commission. In June and July sales were down 47% and 48%, respectively. Caterpillar hasn't registered sales growth since September 2008. Much of those declines came from the weakness of North American sales, which slumped 57% in August. Europe also performed poorly, with sales halved from a year ago. When Caterpillar reported its second-quarter earnings in July, it made sanguine remarks about its prospects and a coming economic recovery, and even lifted its 2009 profit guidance to a range of $1.15 to $2.25 a share, based on cost cutting. (Since the end of last year, the company has laid off some 17,000 full time workers and another 17,000 part-time and temporary employees.) Still, the company in July also reduced its top-line outlook for the year to $32 billion from $36 billion and warned investors and analysts that the third quarter would likely be its worst of the year. Many of its dealers are attempting to rid themselves of old Caterpillar inventory, and have thus delayed making any new orders. Late in Monday's session, Caterpillar shares were trading at $52.74, down 1.3%, on volume of 8.5 million shares. Average daily turnover is 13 million. Caterpillar's stock price has surged 136% since hitting its 52-week low in March.