Salem Radio Network News Thursday, June 1, 2023


US core capital goods orders unexpectedly rise in February

WASHINGTON (Reuters) – New orders for key U.S.-manufactured capital goods unexpectedly rose in February, but data for the prior month was revised sharply down, suggesting that business spending on equipment could be struggling to rebound in the first quarter.

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 0.2% last month, the Commerce Department said on Friday.

Data for January was revised lower to show these so-called core capital goods orders rising 0.3% instead of 0.8% as previously reported. Economists polled by Reuters had forecast core capital goods orders unchanged.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)


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