US Core Business Equipment Orders Increase by More Than Forecast
- Bookings for core capital goods ex-aircraft, defense rise 0.5%
- Total durable goods orders unexpectedly fell due to aircraft
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US orders and shipments for business equipment both rose in December by more than forecast, pointing to firmer investment going into the new year.
Core capital goods orders, a proxy for investment in equipment that excludes often-volatile aircraft and military hardware bookings, increased 0.5% last month after an upwardly revised 0.9% increase in November. The data from the Commerce Department released Tuesday aren’t adjusted for inflation.