Economic Indicators
U.S. core capital goods orders beat expectations in March
2022.04.26 16:02
FILE PHOTO: Durable goods are seen on sale in a store in Los Angeles, California, U.S., March 24, 2017. REUTERS/Lucy Nicholson/File Photo
WASHINGTON(Reuters) – New orders for U.S.-made capital goods rebounded more than expected in March, suggesting that business spending on equipment ended the first quarter with strong momentum.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 1.0% last month, the Commerce Department said on Tuesday. These so-called core capital goods orders fell 0.3% in February.
Economists polled by Reuters had forecast core capital goods orders rebounding 0.5%.
