Orders for U.S. Business Equipment Increase More Than Forecast
- Figures provide some evidence investment may be stabilizing
- Broader gauge of durables orders falls on slump in aircraft
U.S. Third-Quarter GDP Revised Higher to 3.5%
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Orders for U.S. business equipment climbed more than forecast in November, a sign corporate investment is starting to firm up.
Bookings for non-defense capital goods excluding aircraft rose 0.9 percent, the most since August, after a 0.2 percent gain a month earlier, Commerce Department data showed Thursday. The median forecast in a Bloomberg survey called for a 0.4 percent increase. Demand for all durables -- items meant to last at least three years -- fell 4.6 percent on a slump in orders for planes.