Orders for US core capital goods beat expectations in September
[WASHINGTON] New orders for key US-made capital goods rose more than expected in September, wrapping up a quarter of potentially record growth in business spending and the overall economy, thanks to fiscal stimulus aimed at softening the blow from the Covid-19 pandemic.
Orders for non-defence capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 1.0 per cent last month, the Commerce Department said on Tuesday. Data for August was revised higher to show these so-called core capital goods orders increasing 2.1 per cent instead of 1.9 per cent as previously estimated.
Economists polled by Reuters had forecast core capital goods orders increasing 0.5 per cent.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’