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  • NEWS Desk Global

TEPID US CORE CAPITAL GOODS ORDERS POINT TO WEAK BUSINESS EQUIPMENT SPENDING




In March, new orders for essential U.S.-made capital goods experienced a moderate increase. However, data for the previous month was revised downward, indicating that business investment in equipment likely remained subdued in the first quarter.

The Commerce Department's advance estimate of gross domestic product (GDP) for the January-March quarter is expected to be announced on Wednesday. Despite potentially weak business spending on equipment, the economy is anticipated to have delivered another quarter of robust performance. This strength is attributed to a resilient labor market driving consumer spending.

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