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AI-RELATED SPENDING PROPELS US CORE CAPITAL GOODS ORDERS IN MARCH

  • NEWS Desk Global
  • 1 day ago
  • 1 min read

New orders for key U.S.-manufactured capital goods increased by the most in nearly six years in March while their shipments rose solidly, suggesting that business spending on equipment helped drive ​economic growth in the first quarter.

While other data from the Commerce Department on Wednesday showed a sharp widening in the goods trade deficit last month amid strong import growth, ‌the anticipated drag on gross domestic product from the shortfall was likely blunted by a strong increase in business inventories.

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