New orders for key US-made capital goods slowed in July, suggesting that the rebound in business investment may become more gradual amid uncertainty over the course of the Covid pandemic. 19, even as the recovery of the manufacturing sector appears to be gaining ground.Orders for non-defense capital goods excluding aircraft, a closely watched indicator of companies’ spending plans, rose 1.9% last month, the Commerce Department said on Wednesday. These orders for basic capital goods jumped 4.3% in June.
Economists polled by Reuters had forecast such orders to rise 1.9% in July.
Overall, durable goods jumped 11.2% in July, compared to expectations of a 4.3% increase and a 7.6% increase a month earlier.
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–CNBC contributed to this report.