WASHINGTON—New orders for U.S.–made capital goods increased in July, but the pace slowed from the prior month, suggesting that business spending on equipment could struggle to rebound after contracting in the second quarter.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.4 percent last month, the Commerce Department said on Wednesday. These so-called core capital goods orders surged 0.9 percent in June.
