⁍ New orders for key U.S.-made capital goods rose more than expected in September.
⁍ The report followed robust data this month on retail sales and the housing market.
⁍ Business investment tumbled at a record 27.2% annualized rate in the second quarter.
– The US economy grew at a 2.1% annual rate in the July-September quarter, the Commerce Department said Tuesday, putting it on track to end the year on a positive note. Economists had expected a 1.7% increase, the AP reports. The Commerce Department says September durable goods orders rose 1.9%, beating analysts’ expectations of a 0.9% increase. September non-defense capital goods orders, seen as a bellwether for business spending, rose 2.1%, also beating expectations of a 1.9% increase. August orders were revised higher to show a 2.1% increase, compared to an earlier estimate of a 1.9% increase. The 2.1% increase in core capital goods orders means that they have risen for three months in a row, the longest such streak since 1999. The 2.1% increase in core capital goods orders means that they have risen for three months in a row, the longest such streak since 1999. However, the 2.1% increase in core capital goods orders means that they have risen for three months in a row, the longest such streak since 1999. The 2.1% increase in core capital goods orders means that they have risen for three months in a row, the longest such streak since 1999. However, the 2.1% increase in core capital goods orders means that they have risen for three months in a row, the longest such streak since 1999. Reuters notes that the 2.1% increase in core capital goods orders means that they have risen for three months in a row, the longest such streak since 1999.
Source: https://www.reuters.com/article/us-usa-economy-durablegoods/us-core-capital-goods-orders-increase-solidly-in-september-idUSKBN27C1SA