- September 27, 2021
- Posted by: Stratford Team
- Category: Business
(Bloomberg) — Orders placed with U.S. manufacturers for business equipment strengthened in August, extending to six months a solid run of robust capital investment that’s helping fuel economic growth.
The value of core capital goods orders, which exclude aircraft and military hardware and is seen as a barometer of business equipment investment, increased 0.5% after an upwardly revised 0.3% a month earlier, Commerce Department figures showed Monday.
Bookings for all durable goods — or items meant to last at least three years — rose 1.8% from the prior month, reflecting a pickup in orders for commercial aircraft.
The median estimate in a Bloomberg survey of economists called for a 0.4% increase in core capital goods orders and a 0.7% gain in total durables.
Business outlays for capital goods such as electronics, construction machinery and power generating equipment have been a key source of strength for the economy. Resilient consumer spending against a…