Caterpillar is reporting weaker worldwide sales, which has implications for glocal economic forecasting. The Peoria-based equipment maker is considered an indicator for overall economic health. Caterpillar says sales of its machinery fell four percent in the last quarter. Sales in Latin America were up by three percent. Europe, Africa, and the Company's Middle East results improved marginally. China and the U.S. markets were both down 11 to 12 percent. Caterpillar is cutting production to reduce its inventory. The company's forecast for the rest of the year is essentially flat with profits of seven to nine dollars a share.
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