New orders for durable goods in the US rose in October after falling for the previous two months, pointing to increased capital spending by businesses and improved sentiment.

 

Durable goods orders rose 0.2%, or $700 million, to $286.6 billion in October, data from the National Bureau of Statistics showed on Wednesday.

 

This came following a decline by 0.4% in September and 0.9% in August, compared with a 9.8% rise in July, the data showed.

 

Overall, the data suggests that companies are maintaining capital investment levels in equipment despite the Federal Reserve’s post-pandemic interest rate hikes to combat inflation, backed by the investment boom in artificial intelligence technology.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request