US Core Capital Goods Orders Unexpectedly Rise in August

Despite a slight increase in orders, business spending on equipment shows signs of losing momentum in Q3.

Core capital goods orders, excluding aircraft, rose by 0.2% in August after a revised 0.2% drop in July.
Economists had predicted no change in core capital goods orders for August.
The Federal Reserve recently cut its benchmark interest rate for the first time since 2020, aiming to boost business investment.
Orders for durable goods remained flat in August, following a significant 9.9% increase in July.
Uncertainty surrounding the upcoming presidential election has led to a slowdown in manufacturing sector investments.