Orders for U.S. manufactured capital goods increase
The Commerce Department said non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 1.6 percent last month, the largest gain since January.
These so-called core capital goods orders advanced 0.5 percent in June. The rise in July marked the first back-to-back gain since January 2015.
There were hefty increases in orders for machinery, primary metals, fabricated metal products, computers and electronic products, as well as electrical equipment, appliances and components. ■