US Core Capital Goods Orders Post Largest Gain Since 2020
Core capital goods orders rose 3.3% in March, the most in six years. This surge in business spending likely bolstered first-quarter economic growth estimates.
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United States core capital goods orders rose 3.3% in March, the largest monthly gain in nearly six years. This surge followed a 1.6% increase in February and beat Reuters poll forecasts of a 0.5% advance. Strong business spending on equipment likely drove first-quarter GDP growth, offsetting a slowdown in consumer spending.
