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.