WASHINGTON—New orders for key U.S.-made capital goods increased for an eighth straight month in December, pointing to solid growth in business spending on equipment in the fourth quarter and likely helping to underpin the economic recovery.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.6 percent last month, the Commerce Department said on Jan. 27. These so-called core capital goods orders advanced 1.0 percent in November. Last month’s increase was in line with economists’ expectations.
