Caterpillar sales up 11% in 3 months to end of May

Strong demand for Caterpillar Inc.'s (NYSE:CAT) construction and mining equipment in North American continues to offset  slow sales elsewhere in the world, as the company reported Wednesday an increase of 11% in global sales in the three months to the end of May.

It was the 24th straight three-month period of retail sales growth for the world's biggest maker of heavy equipment, reports The Wall Strreet Journal, which contrasted with the gloomy results obtained by Caterpillar in Latin America, Europe, the Middle East and Africa.

In Latin America, CAT sales continued to fall driven by difficult economic conditions, mainly in Brazil. Caterpillar's May sales from the region dropped 6% from a year earlier, following a 13% decline during April and a 6% decrease in March.