Orders for U.S. Capital Equipment in March Ease Unexpectedly
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Orders placed with U.S. factories for business equipment eased unexpectedly last month after a smaller February advance, indicating a more moderate pace of capital spending, a Commerce Department report showed Thursday.
The decline in shipments of non-defense capital goods excluding aircraft was the largest since May 2016 and indicates business spending ended the first quarter on a weak note. Some economists may trim their tracking estimates for growth during the period. The Commerce Department will issue its advance estimate of first-quarter GDP on Friday.