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U.S. core capital goods orders rise solidly in August By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Chad Damron, Matt Dillion, and Chad Damron join an upper deck assembly in the Look Trailers trailer manufacturing facility, Middlebury, Indiana. This was taken April 1, 2021. Picture taken April 1, 2021. REUTERS/Eileen T. Meslar/File Photo

WASHINGTON (Reuters) – New orders for key U.S.-made capital goods increased solidly in August, keeping business spending on equipment on track for another quarter of strong growth.

On Monday, the Commerce Department reported that orders for non-defense capital items excluding aircraft rose 0.5%. This closely monitored proxy shows business spending plans. The so-called core capital good orders increased 0.3% in July.

Reuters polled economists and found that core capital goods orders were expected to rise 0.4%.

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