|
The Commerce Department said on Wednesday
non-defense capital goods orders excluding aircraft, a closely
watched proxy for business spending plans, declined 1.3 percent
last month. That followed a 1.3 percent fall in September.
The drop in the so-called core capital goods orders suggested
that a brisk pace of spending on equipment set in the third
quarter ebbed early in the fourth quarter.
A sturdy pace of business spending on equipment helped the
economy grow at a 3.9 percent annual pace in the third quarter.
Economists polled by Reuters had expected core capital goods
orders to increase 1.0 percent last month.
Shipments of these goods, which are used to calculate equipment
spending in the government's gross domestic product measurement,
fell 0.4 percent in October after rising 0.4 percent in
September.
But overall orders for durable goods - items ranging from
toasters to aircraft that are meant to last three years or more
increased 0.4 percent, snapping two straight months of declines.
Durable goods orders have been volatile in recent months because
of big swings in aircraft orders. Orders for transportation
equipment increased 3.4 percent in October after declining 3.3
percent in September.
The gain came despite Boeing BA.N receiving only 46 aircraft
orders, down from 122 in September, according to information
posted on the planemaker' s website.
Automobile orders rose 0.3 percent last month, halting two
straight months of declines.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci) ((Lucia.Mutikani@thomsonreuters.com;
1 202 898 8315; Reuters Messaging:
lucia.mutikani.thomsonreuters.com@reuters.net)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
