Commerce Department said on Friday that non-defense capital
goods orders excluding aircraft, a closely watched proxy for
business spending plans, increased 0.8 percent after an upwardly
revised 1.5 percent gain in November.
Economists polled by Reuters had forecast these so-called core
capital goods rising 0.5 percent after a previously reported 0.9
percent increase in November.
Shipments of core capital goods jumped 1.0 percent last month
after rising 0.6 percent in November. Core capital goods
shipments are used to calculate equipment spending in the
government's gross domestic product measurement.
The data was included in the fourth-quarter GDP report released
on Friday. The economy grew at a 1.9 percent annualized rate in
the fourth quarter after growing at a 3.5 percent pace in the
Business investment shifted into higher gear in the fourth
quarter, with spending on equipment increasing at a 3.1 percent
rate after four straight quarterly declines.
(Reporting by Lucia Mutikani; Editing by Paul Simao)
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