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U.S. core capital good orders unchanged in December -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A view of the 55-employee Gent Machine Co. factory in Cleveland Ohio, U.S.A, May 26th, 2021. REUTERS/Timothy Aeppel/File Photo

WASHINGTON, (Reuters) – December saw unexpectedly flat new orders for capital goods made in the United States. This suggests a decrease in momentum in equipment spending amid severe shortages.

On Thursday, the Commerce Department stated that there was no change in order for non-defense capital items excluding aircraft. This closely monitored proxy is for business spending plans and follows a 0.3% increase in November.

Reuters polled economists to forecast that these core capital goods orders would rise 0.4%.

Core capital goods shipped increased 1.3% in December, after increasing 0.4% last November. The GDP measure uses core capital goods to determine equipment spending.

This data was published in an advance report on fourth quarter GDP, which was released Thursday.

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