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Gain in Equipment Orders Underscores Robust U.S. Investment
U.S. orders for business equipment increased more than forecast in September, indicating solid investment momentum as the third quarter drew to a close, Commerce Department figures showed Wednesday. • Non-military capital goods orders excluding aircraft climbed 1.3% (est. 0.3% gain) for a third straight month. • Shipments of those goods, which are used to calculate gross domestic product, rose 0.7% (est. 0.1% gain) after a revised 1.2% advance. • Bookings for all durable goods jumped 2.2% (est. 1% advance) following 2% increase. • Excluding transportation-equipment demand, which is volatile, orders rose 0.7% ... (full story)