Key facts
- New orders for U.S.-manufactured non-defense capital goods excluding aircraft increased by 0.9% in June.
- Shipments of core capital goods rose 1.9% in June.
- The increase in orders surpassed economists' forecast of a 0.8% rise.
US core capital goods orders rise 0.9% in June, shipments surge
IN SHORT
New orders for U.S.-manufactured non-defense capital goods excluding aircraft rose 0.9% in June, surpassing economists' forecasts. Shipments of these core goods increased 1.9%, the largest gain in 4-1/2 years, driven by business investment in artificial intelligence.
Key Numbers
0.9%June core capital goods orders increase
1.9%May core capital goods orders increase (revised)
1.9%June core capital goods shipments increase
0.8%Economists' forecast for June core capital goods orders
2.1%Estimated Q2 GDP growth rate
Who's Involved
Commerce Department's Census Bureau
reported the U.S. capital goods orders data
Reuters
polled economists for forecasts
↳ Why This Matters
The strong performance in core capital goods orders and shipments suggests robust business investment, a key component of economic growth, potentially indicating resilience despite global economic headwinds.