U.S. core capital goods orders beat expectations in March

04/26/2022

Less than a minute

2022.04.26 16:02

U.S. core capital goods orders beat expectations in March
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%.

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04/26/2022

Less than a minute