Caterpillar (NYSE:CAT) reported on Friday an 11% drop in last month's rolling 3-month retail sales.
Bloomberg noted that the sales drop in February was the biggest drop since the end of 2016.
In the resource industry, sales in most regions were down significantly with Latin America and North America the top decliners, both dropping 17%. Only Asia/Pacific trended higher at a 20% sales increase.
Total sales in the worldwide resource industries space, which covers sales to quarries and miners, were down 7%.
Worldwide construction sales were down 11%.