US Core Capital Goods Orders Decline Amid Policy Uncertainty
An employee installs the motor of a fan at a manufacturing facility in Lexington, Kentucky.
Photographer: Ty Wright/BloombergOrders placed with US factories for business equipment unexpectedly declined in June, suggesting companies remained cautious about capital spending due to trade and government policy uncertainty.
The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, dropped 0.7% last month after an upwardly revised 2% gain in May, Commerce Department figures showed Friday.