US Core Capital Goods Orders Rise, Exceeding All Forecasts
An employee works on the production floor of a precision optics manufacturing facility in Ontario, New York.
Photographer: Lauren Petracca/BloombergUS orders for business equipment increased in July by more than projected, suggesting companies are moving forward on investment plans as uncertainty around trade and tax policy gradually diminishes.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, increased 1.1% last month after a revised 0.6% decrease in June, Commerce Department figures showed Tuesday. The gain exceeded all forecasts in a Bloomberg survey of economists.