The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, increased 0.1% last month after a revised 0.4% decline in June, Commerce Department figures showed Thursday. The data aren’t adjusted for inflation.
The figures underscore how high borrowing costs, stiffer credit terms and lingering economic uncertainty are curbing firms’ desire to pursue longer-term capital investments. The report showed a decline in bookings for computers and related products.
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