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Caterpillar sales accelerate across the globe

Luke Mutter, a foreman operator with O&M Excavating & Grading Inc., Union Grove, sits atop a Caterpillar tracked excavator to replace a storm sewer under Second Street just south of West Florida Street in Milwaukee. CAT's earning surged last quarter on strong sales in North and Latin America. (Photo by John Krejci)

Luke Mutter, a foreman operator with O&M Excavating & Grading Inc., Union Grove, sits atop a Caterpillar tracked excavator to replace a storm sewer under Second Street just south of West Florida Street in Milwaukee. CAT's earnings surged last month on strong sales in North and Latin America. (File Photo by John Krejci)

NEW YORK (AP) — Caterpillar says its machine sales in August leaped 37 percent worldwide in August, led by surging sales in Latin and North America.

The results, announced Friday in a regulatory filing, highlight a shift in the world’s appetite for construction and mining equipment. The sales growth rate slowed in Asia, while it surged in Latin America and picked up slightly in the United States and Canada.

Sales in Latin America jumped 57 percent in August over the same month a year ago. North American sales rose 40 percent. Sales in Asia rose 32 percent.

Because Caterpillar’s iconic yellow-and-black equipment is used in many sectors around the world, the company’s sales are considered a strong indicator of global economic health.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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