Caterpillar Inc. (CAT) said Monday that global machinery sales through retailers fell 48% in the three months to end August, compared with year-ago data.

The retail sales' trend was flat with the prior month, and though the North American market ticked up, Asia-Pacific, Latin America and Caterpillar's rest-of-the-world segment all suffered sequential declines.

The U.S. heavy equipment maker had already warned that the third quarter would be its weakest of the year as dealers hold off ordering new equipment to eliminate an estimated $1.5 billion of inventory built up during the second half of 2009.

Caterpillar said in August that it anticipated widespread temporary layoffs and rolling factory shutdowns to lower machinery production.

Engine sales through its global dealer network were down 27% in the three months to Aug. 31.

Caterpillar shares were recently trading down 2% at $52.34.

-By Doug Cameron, Dow Jones Newswires; 312-750-4135; doug.cameron@dowjones.com