Caterpillar reports strong equipment sales in Feb.

AP News
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Posted: Mar 18, 2011 11:18 AM
Caterpillar reports strong equipment sales in Feb.

Caterpillar says February was another strong month for sales of its mining and construction equipment, and global sales grew 59 percent over last year.

The Peoria, Ill., based company reported sales figures Friday in documents filed with the Securities and Exchange Commission.

Caterpillar says equipment sales were strongest in Latin America, which reported a 76 percent jump over the previous year. But even in the weakest region of Europe, Africa and the Middle East, sales grew 53 percent in February.

Caterpillar's sales figures are watched closely because its results are considered an indicator of the health of the economy.

Engine sales also improved for Caterpillar but not as much as machinery sales. Caterpillar says total engine sales grew 31 percent.

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