This year’s U.S. election campaign has begun echoing the core economic theme from Bill Clinton’s successful 1992 run for the presidency — “it’s the economy, stupid.” Meanwhile, second-quarter results from major American companies underscore our advice on how to recession-proof your business — seek opportunity abroad while your economy is in the doldrums.

Scan the financial pages of your favorite newspapers and you’ll read the same “international growth, domestic weakness” story over and over again:

• Caterpillar. Sales volume was up US$787 million, with most of the gain coming from outside the U.S. Sales increased in Africa, the Middle East, Commonwealth of Independent States, Latin America, and Asia Pacific — sales were up 50 percent there. The company said that strong growth in emerging markets offset weak sales in North America, Europe, and Japan. Its percentage of sales and revenue outside North America grew from 55 to 60 percent compared to the same quarter last year.
• DuPont. International sales are up 18 percent, compared with a 5 percent domestic increase. DuPont has ridden the wave of global agricultural sales with its genetically modified seeds and other agricultural offerings. However, its sales of residential construction products like Corian and Tyvek dropped with the decline of the U.S. housing sector. DuPont operates in nearly 80 countries and last year netted 60 percent of its sales to customers outside the U.S.
• General Motors. GM boasts 10 percent sales gains internationally, including 20 percent in the BRIC countries: Brazil, Russian, India, and China. However, those results couldn’t offset a 20 percent decline in North American car, truck, and SUV sales, so the company’s global numbers slumped five percent for the quarter. Across town, Ford announced today that it earned profits in every region except North America.
• IBM. The Americas were up eight percent over 2007; Europe, the Middle East, and Africa (EMEA) grew 20 percent; Asia Pacific (APAC) increased 16 percent. Currency adjustments devalued these increases, but in total, IBM’s worldwide income grew 22 percent, with two thirds of its revenue coming from outside the U.S.
• McDonald’s. Foreign sales outpaced American growth. U.S. same-store sales increased 3.4 percent; European sales grew 7.4 percent; and APAC and EMEA jumped 8.8 percent. Australia and China led the APAC improvement. The company also gained from the sale of its share in European fast-food boutique Pret A Manger, a move meant to focus attention on its core brand.
• PepsiCo. PepsiCo International grew over 20 percent in revenue and over 30 percent in profit from the prior year. The weak dollar helped PepsiCo sales in the nearly 200 countries in which the company offers products like Pepsi, Mountain Dew, Aquafina, Lay’s, and Quaker.

The lesson remains clear: When your domestic customers are reluctant to spend, look for revenue abroad.