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U.S. core capital goods orders beat expectations in March -Breaking


© Reuters. FILEPHOTO: A store selling durable goods in Los Angeles, California on March 24, 2017 (c) Reuters. REUTERS/Lucy Nicholson/File Photograph

WASHINGTON (Reuters) – New U.S. capital goods orders rebounded in March more than anticipated, suggesting strong business equipment spending momentum for the second quarter.

Commerce Department reported Tuesday that non-defense capital goods orders excluding airplane increased by 1.0% last month. It is a proxy for business spending intentions. The core capital goods orders were down 0.3% in February.

Reuters polled economic experts and found that core capital goods orders were forecast to rebound 0.5%.