US Capital Goods Orders Slowed Down in July

New orders for US-made capital goods slowed in July, indicating that the recovery in investment activities could gradually become more gradual over the course of the COVID-19 pandemic even as the industry’s recovery appears to be gaining momentum.

The US Commerce Department said non-defense capital goods orders except aircraft, which are indicative of corporate spending plans on equipment, increased 1.9% last month. So-called core capital goods orders rose 4.3% in June.

Economists polled by Reuters had expected these orders to rise 1.9% in July.