Make Kitco Your Homepage

U.S. core capital goods orders rise solidly in August

Kitco News

WASHINGTON, Sept 27 (Reuters) - New orders for key U.S.-made capital goods increased solidly in August, keeping business spending on equipment on track for another quarter of strong growth.

The Commerce Department said on Monday orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.5% last month. These so-called core capital goods orders gained 0.3% in July.

Economists polled by Reuters had forecast core capital goods orders increasing 0.4%.

Reporting by Lucia Mutikani, Editing by Raissa Kasolowsky
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.