Economic news

U.S. orders on capital goods suggest investments are solid

The number of new orders for major goods manufactured in the U.S. gained surpassing predictions in July, while shipments increased at a steady rate, becoming an indicator of brisk performance in business investment at the start of the third quarter.

The rise in orders for capital goods not linked to defense except aircraft, a much followed figure reflecting the level of planned business expenditures, made up 1.4% for the month, whereas June reading had been upped to 0.9%.

Such business expenditures are backed by the $1.5 trillion income tax reduction measures started this January.

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