US core capital goods orders fall sharply in May

Reported 9 months ago

New orders for key U.S.-manufactured capital goods unexpectedly declined in May, with non-defense capital goods orders excluding aircraft dropping by 0.6%. This decrease indicates that business spending on equipment weakened in the second quarter, influenced by elevated borrowing costs. Economists had predicted a slight increase of 0.1% in core capital goods orders, pointing to business challenges amidst higher interest rates and softening demand.

Source: YAHOO

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