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3/12, 2:33 PM (Source: TeleTrader)
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Caterpillar's global machine sales drop 11%

Caterpillar Inc. revealed on Thursday its global retail total machine sales for the three month period ending with February dropped 11%.

Significant decreases in sales were noted in the Asia/Pacific region, 17%, and in North America, 12%. Meanwhile, sales in Latin America declined by 4%.

Sales in resource industries were 17% lower in both, North and Latin America, but rose by 20% in the Asia/Pacific region, which recorded a plunge of 28% in construction industries' sales.

The company's stock was 7.83% down at 9:35 am ET following the release of the report.

Breaking the News / MS