US core capital goods orders unexpectedly fall in August

New orders for key U.S.-made capital goods unexpectedly fell in August and shipments rebounded moderately, pointing to continued weakness in business investment after it declined at its steepest pace in 3-1/2 years in the second quarter. The Commerce Department said on Friday orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.2% last month amid weak demand for electrical equipment, appliances and components, and computers and electronic products.

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