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Economics

US Business Equipment Orders Rise by Most Since Start of Year

  • Capital goods orders ex-defense, aircraft rose 1.3% in August
  • Overall durable goods bookings fell on softer plane orders
Updated on

Orders for business equipment at US factories rose in August by the most since the start of the year, reflecting broad advances across categories, including machinery and computers, even as interest rates rise.

The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, increased 1.3% last month -- the most since January -- after an upwardly revised 0.7% July advance, Commerce Department figures showed Tuesday. The data aren’t adjusted for inflation.