New orders for core capital goods (nondefense capital goods excluding aircraft) rose 0.6 percent in January over December, following a 0.7 percent decline in the previous month. Shipments fell 0.3 percent compared with the previous month, after rising 0.3 percent in December. In January, the three-month-over-three-month annualized growth rate was -9.0 percent for new orders. Although year-over-year growth for orders strengthened in January, the negative three-month-over-three-month annualized growth rate suggests that business investment in equipment got off to a sluggish start in 2015.
