Caterpillar Retail Sales Decline Slows in 3 Months Through May

Caterpillar Inc., the world’s largest maker of construction and mining equipment, said global retail sales dropped at a slower pace in the three months through May as Latin America improved.

Total machine retail sales fell 7 percent from the same period a year earlier, smaller than the 9 percent drop in the three months through April, the Peoria, Illinois-based company said today in a filing.

Retail machine sales declined in every region except Latin America, where they rose 22 percent, according to the filing. Sales fell 16 percent in North America; 14 percent in the Asia-Pacific region; 2 percent in Europe, Africa and the Middle East; and 2 percent in the rest of the world.