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Last Updated: Friday, 25 January 2008, 17:22 GMT
Caterpillar's overseas sales rise
Caterpillar trucks
The company believes the US economy could slide into recession
US construction and mining equipment maker Caterpillar has reported a rise in quarterly profit on strong international sales.

Profit in the last three months of 2007 rose 11% to $975m (490m), with revenue increasing by 10% to $12.14bn.

The company said that sales in North America fell 11%, while sales in the rest of the world went up 31%.

"Global markets for mining, energy and infrastructure development are booming," it said.

The company said the prospect of the US economy sliding into recession was a real possibility.

"While we expect anaemic growth in the US economy, we continue to see positive conditions for our sales in most of the rest of the world," said Caterpillar chief executive Jim Owens.

John Kearney, an analyst at Morningstar, believes that the company "can weather a weaker US market" as long as the global economy stays out of recession.

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