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Companies in the U.S. expanded in December at the fastest pace in almost 4 years, signaling the economic recovery is gaining speed heading into 2010.

Stimulus programs and discounting have propelled a rebound in global sales that is reducing stockpiles, which may spur manufacturers to further increase production in coming months. Caterpillar is among companies that may recall dismissed staff, pointing to gains in employment that will drive consumer spending, which accounts for 70% of the economy.

Caterpillar, the world’s largest maker of bulldozers and excavators, will bring back some laid-off workers next year as sales improve, said Chief Executive Officer Jim Owens.

“We’ll gradually begin to call people back and to rebuild our overall sales and ability to ship product,” Owens said in a Dec. 11 interview with Bloomberg Television. “I think it will gradually begin to pick up as 2010 unfolds.”

Caterpillar cut about 18,700 full-time jobs and about the same number of temporary workers since December 2008 as the global recession reduced demand. The Peoria, IL-based company predicts 2010 sales will increase as much as 25% from the midpoint of the 2009 forecast range.

Read the full story at bloomberg.com.

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