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Caterpillar construction sales off, US up

Keywords: Tags  Caterpillar, construction industries, construction sales, U.S. sales, North America sales, China sales, Frank Crespo, Stacy Irish

NEW YORK — Caterpillar Inc.’s second-quarter sales by its construction industries segment declined in all geographic regions except North America.

Increased deliveries to end-users in the quarter were due to upticks in construction spending in the United States, the Peoria, Ill.-based heavy equipment producer said.

The construction industries unit recorded second-quarter global sales of $4.85 billion in the quarter ended June 30, down 9.2 percent from $5.34 billion in the same period last year.

Increased sales in China were more than offset by declines in other Asia-Pacific countries due to slower economic growth.

"Two notable countries where we’re seeing pockets of improvement are China and the U.S.," Caterpillar vice president and chief procurement officer Frank Crespo told AMM sister publication Steel First.

"Housing starts in the U.S. in the first half of this year were the highest they’ve been since 2008," he said. "So far this year, infrastructure investment in China has increased by 24 percent, its building starts have risen by 4 percent and its steel production has increased by 9 percent."

A version of this article was first published in AMM sister publication Steel First.

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