Orders placed with U.S. factories for business equipment rose more than expected last month, indicating companies are still making long-term investments despite an uncertain economic forecast and high borrowing costs, Bloomberg reports.
The value of core capital goods orders increased 0.3% last month after falling slightly in March, Commerce Department figures showed Friday. The data isn’t adjusted for inflation.
Bookings for all durable goods—items meant to last at least three years—climbed 0.7%, bucking expectations for a decrease. Excluding transportation equipment, orders rose 0.4%.
As Bloomberg writes, the report suggests businesses are still making long-term investments despite high borrowing costs and inflated prices.
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