Caterpillar Inc. CAT said Thursday that global retail sales of its construction and mining machinery rose 30% in the three months to the end of December, as sales activity in North America accelerated faster than elsewhere in the world.

The period was the 20th straight three-month period of sales growth for the world's largest seller of bulldozers, excavators and wheel loaders. Growth has been moderating in recent months because of tougher year-earlier comparison figures and softening economic growth, particularly in Europe.

Dealer-reported sales climbed by 30% and 31% from a year earlier for each of the two reporting periods to the end of November and October, respectively.

In North America -- Caterpillar's largest market -- sales rose 51% in the December period, up from a 41% increase in the November period and a 38% increase in October. While the recovery in U.S. commercial and residential construction activity remains tepid, Caterpillar's sales growth in the region has stemmed from dealers buying equipment for their rental businesses and equipment users replacing worn-out machinery.

Sales in Europe, Africa and the Middle East were up 18% during the December period, after November and October period sales were both up 32%. Europe's ongoing debt crisis is widely expected to choke off economic expansion on the continent as companies and consumers reel in their spending.

Sales growth in Latin America continues to cool as well. December sales from the region rose 10% from a year ago, after the region logged 8% growth during the November period and a 16% increase in October. Latin America had been one of Caterpillar's best-performing geographic markets as construction activity and mining expansions in developing countries such as Brazil drove demand for equipment.

In Asia, sales rose 31% in the December period, the same increase seen in the November period. October period sales rose 33%.

In Caterpillar's engine business, overall sales rose 18% in December, compared with a 15% increase in November and a 13% increase in October. Sales of marine engines continued to struggle, falling 21% last month, after dropping 24% in the November period and slipping 12% in October. Sales of engines for generating electric power rose 23% in December, following a 16% increase in the November period and a 6% increase in the October period.

Engines sales for industrial uses continued to slow, rising 3% in the December period, after climbing 6% in the November period and increasing 13% in the October period.