Forex News Trading - The number of new orders for capital goods in the U.S. rose for the second month in a row in July as demand for machinery and a host of other products increased, giving tentative signals that the decline in the level of business spending began to subside.
The economy also got a boost from other data on Thursday that showed a decrease in the number of unemployment claims last week.
The Department of Commerce said capital goods orders outside of aircraft, a benchmark for the spending plan business, growing by as much as 1.6% last month, the sharpest increase since January. The level of core capital goods orders rose by 0.5% in July. The increase in July became the first consecutive rise since January 2015. Economists estimate capital goods orders rose just unti 0.3% last month.
Meanwhile, the number of initial jobless claims dropped by as much as 1.000 be 261.000 last week, scoring a decline for three consecutive weeks. Economists estimate the number of claims increased became 265.000.