US Business Equipment Orders Remain Tepid on High Interest Rates
- Core capital goods bookings edge up after 0.4% June decrease
- Orders for all durable goods decline by most since April 2020
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Orders placed with US factories for business equipment increased slightly in July after a downward revision to the prior month, suggesting companies are somewhat cautious about capital investment amid high borrowing costs and economic concerns.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, increased 0.1% last month after a revised 0.4% decline in June, Commerce Department figures showed Thursday. The data aren’t adjusted for inflation.