U.S. business equipment orders rose sharply in August

Orders for key U.S.-manufactured capital goods rose 1.6% in August, exceeding economists’ expectations, while July’s increase was revised to 0.6%. The figures point to continued strength in business spending on equipment, supported in part by investment in artificial intelligence infrastructure.

Orders for computers and related products climbed 1.5% from July and were up 20.1% from a year earlier. Economists cautioned that higher oil prices, interest rates and Treasury yields could slow investment as businesses face rising costs.

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