New orders for durable goods, designed to last more than three years, fell -1.1% in September, indicating softening business investment. This represents a big miss in orders which were forecast at a -0.2% drop. Thursday’s report from the Commerce Department indicates an ongoing trend in business spending, with the decline is likely a result of the ongoing trade war between China and the United States.
The latest Commerce Department report indicates that business investment continues to soften due to uncertainty around the trade war. Businesses are planning to spend less on equipment, indicated by a -0.5% drop in non-defense capital goods excluding aircraft (core capital goods orders). Demand for transportation equipment, motor vehicle parts, and computer and electronic products fell last month…CLICK for complete article