The U.S. economy won’t be getting a big push this quarter from business investment. Shipments and orders of core capital goods, which exclude aircraft and military hardware, both fell 0.2 percent in May, according to Commerce Department data released Monday. This key input to the government’s estimate of gross domestic product caused some economists to mark down their tracking estimates for second-quarter growth. Stephen Stanley, chief economist at Amherst Pierpont Securities, said in a note that companies are waiting for congressional action on tax reform before making big decisions on equipment purchases.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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