US Core Capital Goods Orders Exceeded Forecast in December

US orders for business equipment increased in December by more than projected, suggesting solid capital investment at the end of last year as trade policy uncertainty gradually diminished.

The value of core capital goods orders, a proxy for investment in equipment that excludes commercial aircraft and military hardware, increased 0.6% in December after a revised 0.8% gain a month earlier that was twice as much as previously estimated, Commerce Department figures showed Wednesday.