Reported about 9 hours ago
US core capital goods orders saw a significant rebound in November, indicating robust demand for machinery and a resilient economy as 2024 approaches. The Commerce Department reported a 0.7% increase in non-defense capital goods orders, contrary to earlier forecasts. This positive trend comes amid strong consumer spending and a stable business investment outlook, despite previous monetary policy tightening. While overall orders for durable goods declined, factors such as strong growth in core capital goods orders could mitigate potential drops in business investments, particularly in the wake of recent challenges faced by Boeing.
Source: YAHOO