AP: Caterpillar post 60% jump in Q4 profit on steep global sales increase

Caterpillar Inc. said Thursday that its fourth-quarter profit jumped 60 percent, boosted by pent-up demand for new equipment and continuing growth in developing countries. The performance of the world’s largest maker of construction and mining equipment is an indicator of the strength of the global economy. Along with strong fourth-quarter earnings, Caterpillar issued rosy guidance, saying that it expects the global economy to grow faster this year and construction activity to continue to improve in most parts of the world. Caterpillar sees China’s economy growing by 8.5 percent in 2012, with more construction and rising demand for commodities bringing more machine sales.
AP