¿¿Shares of Caterpillar Inc. are down slightly Friday after it reported lower dealer sales for the first time in over two years.
The Peoria company said worldwide retail machinery sales for the last three months of 2012 fell 1 percent. Sales fell by the largest amount — 7 percent — in the once red-hot Asia Pacific market.
In North American, sales retail sales of machines fell 6 percent. Latin America drove markets with growth of 14 percent.
Sales of power systems were down 2 percent across all industries. Sales of industrial power systems fell the most at 20 percent, followed by power systems in the transportation sector. Caterpillar saw growth in electrical and petroleum power systems.
Caterpillar is considered a bellwether of global economic health because it is the world’s largest maker of construction and mining equipment. Its sales tend to foreshadow world growth trends.
Shares lost $1.10 to hit $95.50 in morning trading.
[email protected] | Twitter: @SamWillTravel
