Weak U.S. Business Spending Plans Point To Slower Economic Growth
Source: Reuters
A gauge of U.S. business investment plans fell for a second straight month in September, the latest indication that economic growth braked sharply in the third quarter.
The Commerce Department said on Tuesday non-defense capital goods orders excluding aircraft, a closely watched proxyfor business spending plans, slipped 0.3 percent last month after a downwardly revised 1.6 percent decline in August.
These so-called core capital goods were previously reported to have dropped 0.8 percent August. The data was the latest dour news for the manufacturing sector, which has been hobbled by a strong dollar and deep spending cuts in the energy sector.
Manufacturing, which accounts for about 12 percent of the economy, has also been hit by efforts by businesses to reduce an inventory bulge and by slowing global demand.
Read more: http://www.reuters.com/article/2015/10/27/us-usa-economy-idUSKCN0SL1LB20151027
Wellstone ruled
(34,661 posts)Thomson/Reuters. Never any mention about upstream or down stream effects or suppliers. Just generalities. BTW,USA/Today,Gannett. Ouch.
Purveyor
(29,876 posts)I'm sure you have the most impeccable sources for reporting on business/economy so why don't YOU post those glowing articles for all to see, except me of course.
I'm sick your of whining and welcome you my ignore list.
See ya...
houston16revival
(953 posts)With 6 years of near zero interest rates companies and every MBA under
the sun has had ample opportunity to fund investment projects. Everything
looked profitable at 0% so everything was a "go!". Glut is the result, which
is not creating optimism going forward.