July orders for capital goods post largest rise in more than a year

Washington

ORDERS for capital goods increased in July by the most in more than a year, showing corporate spending was finding its footing prior to the turmoil in financial markets.

Bookings for non-military equipment excluding planes climbed 2.2 per cent, the most since June 2014, after increasing 1.4 per cent in June, data from the Commerce Department showed on Wednesday in Washington.