Advertisement

New orders for US capital goods see biggest increase in two years

New orders for key US-made capital goods increased by the most in nearly two years in June and shipments accelerated, but the gains were likely insufficient to avert the deepest plunge in business investment and economic activity since the Great Depression in the second quarter because of the COVID-19 crisis.
 
The improvement in manufacturing reported by the Commerce Department on Monday was driven by pent-up demand following the reopening of businesses. 
 
However, the budding recovery is threatened by a resurgence in new cases of the coronavirus, which has forced some authorities in the hard-hit South and West regions to either close businesses again or halt reopenings.


comments powered by Disqus
Most Popular
JTA concerned after CSEC student tests...
Man shot dead on Mandela Highway