A closely watched gauge of U.S. business investment surged in September, signaling a burst of momentum across America’s industrial sector and reinforcing signs that manufacturing is regaining strength after a volatile start to the year.
Non-defense capital goods orders excluding aircraft—a key proxy for business spending on equipment—rose by 0.9 percent last month, far outpacing economists’ forecasts for a 0.2 percent increase, according to a delayed U.S. Census Bureau report released Nov. 26 following the 43-day federal shutdown.
