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Orders for US Business Equipment Match Biggest Drop This Year

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Orders placed with US factories for business equipment unexpectedly declined in May, indicating firms remain cautious about investment amid higher-for-longer borrowing costs and softer demand.

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US business equipment borrowings up 11% in May, ELFA saysCompanies signed up for new loans, leases and lines of credit worth $10.2 billion in May, down 7% from a month ago. The Washington-based company, which...
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