Decline In Caterpillar's Machine Sales Intensifies During July

Caterpillar Inc. CAT delivered a disappointing retail sales number for July. The company witnessed a drop of 19 percent in global retail sales of machines in July compared to the previous 12 percent drops in June and May.

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The company recorded a significant drop of 43 percent in Latin America, followed by 20 percent fall in North America and 13 percent drop in EAME regions in July, according to a Form 8-K filing. Asia/Pacific witnessed a fall of 7 percent, which is the least among the four main regions for the company.

In comparison, Caterpillar witnessed a drop of 38 percent in Latin America, 12 percent in North America, 4 percent in EAME and 7 percent in Asia/Pacific in June. The biggest dragger in both the months was Latin America.

Following the news, the stock was seen down 1.46 percent at $83.18.