Orders for U.S. Capital Goods Rose After Revised May Drop

Orders for U.S. business equipment rose in June after falling the prior month, forming an inconsistent pattern that indicates corporate investment lacks the momentum needed to propel economic growth to a higher level.

Bookings for non-military capital goods excluding aircraft climbed 1.4 percent after a 1.2 percent decrease in May that was previously reported as a 0.7 percent gain, data from the Commerce Department showed today in Washington. Such demand, considered a proxy for future business spending, declined 0.9 percent over the past three months, dimming the third-quarter outlook. Orders for all durable goods climbed.