Slower construction of everything from cruise ships to pipelines during the coronavirus pandemic is weighing on demand for Caterpillar Inc.’s heavy machinery.
Caterpillar said Tuesday that machinery sales fell 23% in its third quarter as customers held off on big purchases. Revenue fell in Caterpillar’s three global segments, declining 23% in construction, 21% in mining and 24% in its energy and transportation business.
“Those…
