Figures released Wednesday morning show new orders for non-military U.S. capital goods other than aircraft rose for a third straight month in August, a positive signal for the business investment outlook.
The U.S. Commerce Department reported new orders for the category, which includes goods like motor vehicles and machinery and is a closely watched proxy for business spending plans, increased 0.6% last month.
Economists had forecast these so-called core capital goods orders falling 0.2%
The government downwardly revised its estimate for those orders in July to a 0.8% gain from the previously reported 1.5% increase.
