Orders for Business Equipment in U.S. Rise More Than Forecast
- Commerce report also showed 3% gain in all durable goods
- More demand for machines, electronics, communications gear
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Orders for U.S. business equipment climbed more than forecast in October, indicating steady domestic demand is encouraging corporate investment even as global sales waver.
Bookings for non-military capital goods excluding aircraft rose 1.3 percent, the most in three months, after an upwardly revised 0.4 percent increase in September, data from the Commerce Department showed Wednesday. Orders for all durable goods -- items meant to last at least three years -- climbed 3 percent, almost twice the median estimate in a Bloomberg survey.