Orders for US Business Equipment Barely Rise Ahead of Election
- Core capital goods orders rose 0.2% in August after July drop
- Bookings for all durables stalled on fewer aircraft orders
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Orders placed with US factories for business equipment rose only slightly in August, suggesting firms are limiting investment ahead of the election and further declines in borrowing costs.
The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, increased 0.2% last month after a drop of the same magnitude in July, Commerce Department figures showed Thursday. The data aren’t adjusted for inflation.