According to data released by the U.S. Census Bureau of the Department of Commerce on Tuesday, orders for non-defense capital goods excluding aircraft experienced a significant month-on-month increase of 1.1% in July, substantially surpassing expectations. This surge signals a robust start for business equipment spending in the third quarter. Notably, the June figure was revised upwards to a 0.6% decrease from the initially reported 0.8% decline. This revised growth underscores the enduring strength of underlying demand for equipment and expansion among American businesses.
