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Company News

U.S. core capital goods orders increase more than expected in August

WASHINGTON, Sept 25 (Reuters) - New orders for key U.S.-made capital goods increased more than expected in August and demand for the prior month was stronger than previously reported, pointing to a steady recovery in manufacturing.

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 1.8% last month, the Commerce Department said on Friday. Data for July was revised up to show these so-called core capital goods orders increasing 2.5% instead of 1.9% as previously estimated. Economists polled by Reuters had forecast core capital goods orders gaining 0.5% in August.

Reporting by Lucia Mutikani Editing by Chizu Nomiyama

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