Orders for U.S. Capital Goods Rose in July by Most in a Year
- Gain in total orders beat all estimates in Bloomberg survey
- Demand climbed for autos, communications gear and electronics
U.S. Durable, Capital Goods Orders Climb in July
This article is for subscribers only.
Orders for capital goods increased in July by the most in more than a year, showing corporate spending was finding its footing prior to the turmoil in financial markets.
Bookings for non-military equipment excluding planes climbed 2.2 percent, the most since June 2014, after increasing 1.4 percent in June, data from the Commerce Department showed Wednesday in Washington. Orders for all durable goods-- items meant to last at least three years -- rose 2 percent, exceeding all forecasts of economists surveyed by Bloomberg.