New orders for capital goods produced in the U.S were unexpectedly flat in December, suggesting a loss of strength in business spending on equipment amid a shortage.
THE Department of Commerce said on Thursday that last month’s unchanged reading on capital goods orders excluding defense and aircraft, a closely watched measure for business spending plans, followed a 0.3% gain in November.
Economists consulted by the Reuters projected that the so-called core of capital goods orders would rise 0.4%
Core capital goods shipments jumped 1.3% last month after rising 0.4% in November. Shipments are used to calculate equipment expenditures as a measure of GDP.
The data were included in the report of the Fourth-quarter GDP released this Thursday.
Source From: Moneytimes
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