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Orders for U.S. Business Equipment Unexpectedly Fell in October
Orders for U.S. business equipment such as machinery and electrical gear unexpectedly declined in October, a sign that recent increases in corporate investment may not persist. Bookings for non-military capital goods excluding aircraft fell 1.3 percent for a second straight month, the Commerce Department said today in Washington. Economists projected a 1 percent gain, according to the Bloomberg survey median. Orders for all durable goods -- items meant to last at least three years -- rose 0.4 percent on a jump in demand for military aircraft. An inconsistent pattern of investment in equipment shows companies are ... (full story)