U.S. Core Capital Goods Orders Increase Solidly In September

• New orders for key U.S.-made capital goods rise more than expected in September, wrapping up a quarter of potentially record growth in business spending and the economy, thanks to fiscal stimulus aimed at softening the blow from the Covid-19 pandemic.
• The report from the Commerce Department on Tuesday followed robust data this month on retail sales and the housing market. But government money has dried up and new coronavirus infections are surging across the country, leading economists to anticipate a slowdown in activity in the fourth quarter.
• Core capital goods orders, which have pulled above their pre-pandemic level, were in September boosted by increased demand for primary metals, fabricated metal products, and computers and electronic products. But orders for machinery and electrical equipment, appliances and components fell.

(Source: CNBC)