US Core Capital Goods Orders Surge by Most Since 2020
A worker welds a stainless steel gas pipe in East Peoria, Illinois.
Photographer: Daniel Acker/BloombergUS orders for business equipment increased in March by the most since mid-2020, extending a yearlong stretch of solid capital investment fueled by spending on artificial intelligence.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, jumped 3.3% after an upwardly revised 1.6% advance in February, Commerce Department figures showed Wednesday.