Friends of Manufacturing

U.S. business spending on equipment robust, new home sales surge

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New orders for key U.S.-made capital goods increased more than expected in September and shipments rose for an eighth straight month, pointing to robust business spending that should help to mitigate the impact on the economy from the hurricanes.

Other data on Wednesday showed new single-family home sales vaulting to a near 10-year high last month. The signs of strong business investment on equipment in the third quarter and a pick-up in the housing market supported views the Federal Reserve will increase interest rates in December.

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