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U.S. core capital good orders beat expectations in September

New orders for key U.S.-made capital goods rose more than expected in September, wrapping up a quarter of potentially record growth in business spending and the overall economy, thanks to fiscal stimulus aimed at softening the blow from the COVID-19 pandemic.

WASHINGTON, Oct 27 (Reuters) - New orders for key U.S.-made capital goods rose more than expected in September, wrapping up a quarter of potentially record growth in business spending and the overall economy, thanks to fiscal stimulus aimed at softening the blow from the COVID-19 pandemic.

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 1.0% last month, the Commerce Department said on Tuesday. Data for August was revised higher to show these so-called core capital goods orders increasing 2.1% instead of 1.9% as previously estimated.

Economists polled by Reuters had forecast core capital goods orders increasing 0.5%.

(Reporting by Lucia Mutikani Editing by Chizu Nomiyama)

((Lucia.Mutikani@thomsonreuters.com; 1 202 898 8315; Reuters Messaging: lucia.mutikani.thomsonreuters.com@reuters.net))

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