US core capital goods orders unexpectedly fall in Jan after 3 months gain

New orders for US-made capital goods unexpectedly fell in January after three straight months of strong gains but did little to change views that manufacturing was recovering from a prolonged slump amid rising commodity prices. The Commerce Department said on Monday that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dropped 0.

4 per cent after an upwardly revised 1.1 per cent increase in December. These so-called core capital goods were previously reported to have gained.....

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