In August, shipments for core capital goods (nondefense capital goods excluding aircraft)fell for the fourth consecutive month, declining 0.4 percent from July. However, new orders for these goods increased for the third consecutive month, rising 0.6 percent from July. Hinting at some possible momentum for near-term business investment in equipment, the three-month moving average for core capital goods orders was 0.6 percent. However, year-over-year growth rates for core capital goods shipments and new orders remain negative.
