WASHINGTON New orders for key US-made capital goods fell more than expected in September and shipments also declined, a sign that business investment remains weak amid the continuing fallout from the US-China trade war but other data on Thursday showed it has yet to have much effect on the overall jobs market.
US manufacturing output fell more than expected in September, hampered by a strike at General Motors, Fed data showed last week while business investment fell at a 1.0 per cent annualised rate last quarter, the biggest drop since the fourth quarter of 2015, the government reported last month. Initial claims for state unemployment benefits declined 6,000 to a seasonally adjusted 212,000 for the week ended Oct 19, the Labor Department said. Data for the prior week was upwardly revised to 218,000.