Friends of Manufacturing

U.S. core capital goods data underscores economy's strength

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New orders for U.S.-made capital goods increased more than expected in August and shipments maintained their upward trend, pointing to underlying strength in the economy despite an anticipated drag on growth from Hurricanes Harvey and Irma. 

The signs of an acceleration in business spending on equipment bolstered prospects of a December interest rate hike by the Federal Reserve, boosting the dollar and pushing up the yield on the two-year U.S. Treasury note to its highest level since 2008.

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