Caterpillar sees slower growth in dealer sales

Caterpillar Inc., Peoria, Ill., the world's largest construction equipment manufacturer, says growth in dealer sales of its heavy equipment slowed during the three months ending in July, according to The Baltimore Sun. The slowdown is reinforcing concerns about the U.S.' struggling economy.

Dealer sales, which are an indicator of future revenue, increased 35 percent worldwide during the past three months—a slower rate than the 45 percent growth reported in July.

Growth has slowed most dramatically in North America, falling from 50 percent to 27 percent, and growth in the Asia-Pacific region dropped from 28 percent to 20 percent. Latin America was the only area to report faster growth, increasing from 1 percent to 52 percent.

In July, Caterpillar warned investors that economic growth has been slower than expected this year in the U.S. and other developed economies. The company also warned of falling demand in China.

Date : 8/19/2011