Growth is real and it’s explosive.Today’s reminder comes from 3M:
During the third quarter, the company drove double-digit sales increases in four of its six business segments, led by Electro and Communications at 25 per cent and Display and Graphics at 19 per cent. Asia Pacific led all geographic regions with a 28 per cent sales increase.
Sales in emerging markets grew by 25 per cent in the third quarter and now comprise 34 per cent of 3M’s worldwide sales. Sales grew by 48 per cent in Korea, 39 per cent in India, 32 per cent in Russia, 31 per cent in the China/Hong Kong region and 25 per cent in Brazil.
The overall geographic breakdown:
On a geographic basis, sales rose 28 per cent in Asia Pacific, 14 per cent in Latin America/Canada and 6 per cent in the United States. In Europe, organic volumes rose 4 per cent, but sales in total declined 1 per cent as currency effects more than offset volume gains.