WASHINGTON (Reuters) – New orders for U.S.-produced capital goods were unexpectedly flat in December, suggesting business spending on equipment lost steam amid a shortage.
The Commerce Department said on Thursday that an unchanged reading for last month on capital goods orders excluding defense and aircraft, a closely watched measure for business spending plans, followed a 0.3% gain. in November.
Economists polled by Reuters projected that so-called core capital goods orders would rise 0.4%
Core capital goods shipments jumped 1.3% last month after rising 0.4% in November. Shipments are used to calculate equipment expenditures as a measure of GDP.
The data was included in the fourth quarter GDP report released on Thursday.
(Reporting by Lucia Mutikani)
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