US Business Equipment Spending Slows Despite Surge in Aircraft Orders

July data reveals a mixed economic outlook as durable goods orders rise but core capital goods orders dip.

Core capital goods orders fell 0.1% in July, following a downward revision for June.
Durable goods orders surged 9.9%, largely driven by a rebound in aircraft orders.
Excluding transportation, durable goods orders decreased by 0.2%.
The Federal Reserve is expected to cut interest rates soon, potentially easing borrowing costs.
Business investment in equipment contributed to a 2.8% annualized GDP growth rate in Q2.