Increased investment may be sustained in 2018 as lower corporate tax rates, from a bill awaiting President Donald Trump’s signature, give businesses the wherewithal to boost capital spending at the same time the global economy shows signs of firming.
Durable Goods Orders rose by 1.3%
Orders for all durable goods -- items meant to last at least three years -- increased 1.3 percent as bookings for commercial and military aircraft rebounded. Core capital goods orders advanced at an 18 percent annualized rate in the three months through November, while those shipments moved ahead at a 14.9 percent pace. The data indicate spending on equipment will provide more fuel for economic growth after a third-quarter contribution that was the most in two years.
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