Monday’s data suggest that U.S. business spending on equipment picked up at the start of the first quarter
New orders for key U.S.-manufactured capital goods increased more than expected in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.8 per cent last month, the Commerce Department said on Monday. These so-called core capital goods orders dropped 0.3 per cent in December.
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