Caterpillar sales continue to fall

11/20/2009 | Wall Street Journal, The

Caterpillar's worldwide machinery sales fell 50% in the three-month period that ended in October, the company said. The company noted that weakness in sales affected all of its markets. North American sales fell 58% from year-ago levels, while sales in Europe, the Middle East and Africa declined 53%. Analysts expect sales to remain weak in the short term and note that the company still has a glut of unsold equipment.

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