Caterpillar, engine, construction, equipment--Caterpillar Posts Strong Machine Sales in May

NEW YORK (AP) Caterpillar Inc. said June 18 its machine sales worldwide jumped 11 percent in May compared with a year ago as a rebound in North American and Asian business markets helped offset declines in European sales. It was the first time since August 2006 the company has reported year-over-year growth in North America machine sales, said Jefferies & Co. analyst Stephen Volkmann. “While this is in line with our view that the industrial economy is recovering, it also is somewhat stronger than even we had expected,” he added.