U.S. core capital goods orders rebound in May – ZAWYA

U.S. core capital goods orders rebound in May – ZAWYA

U.S. core capital goods orders rebound in May U.S. core capital goods orders rebound in May | ZAWYA MENA Edition HomeEconomyGlobalArticleU.S. core capital goods orders rebound in May These so-called core capital goods orders dropped 6.5% in April    Workers assemble Ford cars at a plant of Ford India in Chengalpattu in the outskirts of southern city of Chennai March 5, 2012. WASHINGTON- New orders for key U.S.-made capital goods rebounded more than expected in May, but recouped only a portion of the prior two months' declines, suggesting business investment could lag the broader economic recovery from the COVID-19 pandemic.Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 2.3% last month as demand rose across the board, the Commerce Department said on Thursday. These so-called core capital goods orders dropped 6.5% in April.Economists polled by Reuters had forecast core capital goods orders advancing 1.0% in May. Core capital goods orders fell 2.5% on a year-on-year basis in May.Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 2.3% last month as demand rose across the board, the Commerce Department said on Thursday. These so-called core capital goods