US core capital goods orders fall; goods trade deficit widens

Washington

NEW orders for US-made capital goods fell for a second straight month in January and shipments barely rose, pointing to a slowdown in business spending on equipment after robust growth in 2017.

The report from the Commerce Department on Tuesday added to weak January retail sales, industrial production and home sales data in suggesting that economic growth moderated early in the first quarter. That was also underscored by other data showing a widening in the goods trade deficit in January.