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US capital goods orders up in August
Core non-defense capital goods orders in the United States rose by 1.6% in August, surpassing economists' expectations of a 0.5% increase, after a 0.6% rise in July. The previous month's data was also revised upward sharply, indicating a significant boost in equipment demand—marking two consecutive quarters of growth—driven by heavy investments in artificial intelligence. Shipments of core capital goods increased by 0.6% in August, following a 1.4% rise in July, reflecting strong corporate spending and supporting the manufacturing sector and the economy overall. However, economists warn of a potential slowdown in the industrial sector due to rising oil prices, interest rates, and long-term U.S. Treasury bond yields.
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