Summary Box: Businesses order more capital goods

AP News
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Posted: Oct 04, 2011 3:09 PM
Summary Box: Businesses order more capital goods

BUSINESS INVESTMENT RISES: Orders for capital goods, which are considered a good measure of business investment plans, rose 0.9 percent in August, the Commerce Department said Tuesday. It was the second gain in three months.

FACTORY ORDERS FALL: Overall factory orders fell 0.2 percent, the Commerce Department said. Automotive orders fell sharply, after rising in July. And orders for oil, gas and other non-durable products also fell.

MODEST GROWTH: The increase in capital goods orders and shipments suggests businesses kept investing during a difficult month, which should boost growth in the July-September quarter.