On February 21th, Caterpillar said that the global retail sales of its construction and mining machinery grew 27% in the three months to the end of January, as sales activity in North America continued to outpace the other regions of the world.

The period was the 21th straight three-month period of retail sales growth for the world's largest seller of bulldozers, excavators and wheel loaders. The growth has been slowing down in recent months because of tougher year-earlier comparison figures and softening economic growth, particularly in Europe.

Dealer-reported sales climbed by 30% from a year earlier for each of the two reporting periods to the end of December and November.