U.S. core capital goods orders rise solidly in August

Posted on
FILE PHOTO: Matt Dillion and Chad Damron weld an upper deck assembly at Look Trailers cargo trailer manufacturing facility in Middlebury, Indiana, U.S., April 1, 2021. Picture taken April 1, 2021. REUTERS/Eileen T. Meslar/File Photo

WASHINGTON (Reuters) – New orders for key U.S.-made capital goods increased solidly in August, keeping business spending on equipment on track for another quarter of strong growth.

The Commerce Department said on Monday orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.5% last month. These so-called core capital goods orders gained 0.3% in July.

Economists polled by Reuters had forecast core capital goods orders increasing 0.4%.

Source: Read Full Article

Business